UK day-ahead power prices continued to tread lower for a second session Tuesday amid sufficient renewable supply.
Receive daily email alerts, subscriber notes & personalize your experience.Register Now
The UK baseload day-ahead contract was down GBP1.45/MWh to GBP37.35/MWh, and peak was heard trading at GBP41.50/MWh before the close at 11 am (1000 GMT). On the basis of the last trade, peak was down GBP2.30/MWh day on day.
In the N2EX and EPEX spot auction, the base and peak settled at GBP37.74/MWh and GBP40.36/MWh, respectively.
Network operator National Grid's forecast demand during peak times Wednesday at 33.5 GW, up from Tuesday's expectation of 32.2 GW.
According to spotrenewables, Wednesday's combined solar and wind output was set to be 8.2 GW, steady versus Tuesday's expected 8 GW.
Actual solar generation for Tuesday was at 7.2 GW at 11 am, according to data from the University of Sheffield and National Grid.
That was higher than National Grid expectations of 6.5 GW around the same time. Solar output was expected to fall to 4.3 GW Wednesday, the grid forecast.
At 12:25 pm, gas-fired generation stood at 15 GW, coal output at 684 MW, nuclear generation at 7.2 GW and power from wind farms was at 2.2 GW.
In the NBP natural gas market, day-ahead was seen trading at 35.40 pence/therm, down from the previous day-ahead assessment of 35.35 p/th.