Record wind power boosts supply
Short-term UK power prices have been pushed lower again over the last fortnight – partly due to the blustery early September weather boosting wind power output to record levels, while longer-term prices have continued to witness choppy trading conditions – prices whipping up, down and then up again in line with other energy markets and the ebb and flow of Eurozone debt fears.
A fire at Norway’s Huldra platform and outages at one Teesside gas terminal and at the Armada, Lomond and Everest gas fields have provided some support to short-term prices despite unseasonably low demand, but by mid–month Day-ahead prices were plunging – slipping from 55 p/th to below 48 p/th at the time of writing (a 10-month low), in part due to these outages ending.
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Energy Market Intelligence report – mid September 2011
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The arrows indicate price change between 3 September 2011 and 16 September 2011: