Register with us today

and in less than 60 seconds continue your access to:Latest news headlinesAnalytical topics and featuresCommodities videos, podcast & blogsSample market prices & dataSpecial reportsSubscriber notes & daily commodity email alerts

Already have an account?

Log in to register

Forgot Password

Please Note: Platts Market Center subscribers can only reset passwords via the Platts Market Center

Enter your Email ID below and we will send you an email with your password.

  • Email Address* Please enter email address.

If you are a premium subscriber, we are unable to send you your password for security reasons. Please contact the Client Services team.

IF you are a Platts Market Center subscriber, to reset your password go to the�Platts Market Center to reset your password.

In this list
Electric Power

UK prompt power prices lifted by wind slump, higher gas prices

Agriculture | Grains

How high will Russian wheat prices rise?

Electric Power

Platts Market Data – Electric Power

Commodities | Energy | Electric Power | Emissions | Renewables | Natural Gas | Natural Gas (North American)

Northeast Power and Gas Conference

Electric Power

EU Parliament panel to endorse diesel-cutting CO2 curbs Feb 27

UK prompt power prices lifted by wind slump, higher gas prices

London — UK day-ahead power prices rose sharply on Monday as forecasts predict a steep drop in wind power generation to below 500 MW, while rising gas prices also supported the prompt, sources said.

Not registered?

Receive daily email alerts, subscriber notes & personalize your experience.

Register Now

Price of baseload and peakload power for Tuesday delivery surged to GBP38/MWh and GBP42.50/MWh before S&P Global Platts 11:00 am London time market close, both up GBP1.10 from Friday's assessment for Monday.

The UK's base day-ahead action settled nearly 50 pence higher than the OTC contract at GBP38.48/MWh on Monday, data from the exchanges N2EX and APX showed. Similarly, the peak day-ahead auction price cleared at GBP42.94/MWh.

According to National Grid, peak power demand is expected to rise to 35.5 GW on Tuesday, up from Monday's peak demand forecast of 33.9 GW, while at the same time wind power output is likely to dive to 452 MW on Tuesday, compared with 792 MW on Monday.

Article Continues below...

This is likely to tighten surplus margins to 10.3 GW on Tuesday, narrowing from nearly 13 GW on Monday, the grid data showed.

In addition to tightening supply margins, bullish sentiment on the gas hub supported higher prompt power prices. On the NBP gas hub, the within-day and day-ahead contracts were trading at 35.90 pence/therm and 35.60 p/th, higher than Friday's close.

Meanwhile, CustomWeather expects weather conditions across the UK to stay above seasonal norms over the next two days, with temperatures in London and Birmingham likely to rise 1-4 degrees Celsius above average.

On the supply side, gas-fired power plants produced nearly 49% of the UK's electricity, generating 15 GW of power midday Monday, offsetting lower wind power generation of 382 MW.

Coal and nuclear plants contributed 2.6 GW and 7.3 GW of power to the grid, accounting for 8.5% and 24% of the fuel mix, the grid said. Dutch and French imports into the UK were stable at 1 GW (3.3%) and nearly 2 GW (6.5%) respectively.