Tom Hurst

Drax sells 90,000 SME customers to EDF Energy - These customer meter points were originally acquired by Drax Group, as part of its purchase of Opus Energy in 2017, a transaction valued at £340 million. In its announcement to the London Stock Exchange, Drax noted that various other segments of the Opus business have been integrated into its core industrial and commercial (I&C) energy supply operations over the past seven years. This includes the renewables business, which manages the group’s power purchase agreements (PPAs) with renewable energy producers, alongside other specified components. Drax sees these actions as reinforcing its commitment to reducing carbon dioxide emissions and advancing its Energy Solutions (Customers) division, which focuses on industrial and commercial clients, renewable energy and energy services. The group confirmed that its Energy Solutions segment will remain unaltered by the sale of Opus SME assets and the group’s expectations for Energy Solutions earnings before interest, taxes, depreciation and amortisation (EBITDA) remain unchanged following this transaction. https://lnkd.in/eePcCQXe

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Really interesting news - Drax (Opus Energy customers) sells 90,000 SME customers to EDF Energy. Transfer from Opus Energy to EDF should happen over the next few months! #energy #news #utilities Read more: https://lnkd.in/eGA4SkPu

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UK Energy Prices Pump as Supply Risks Loom: Gas, Power, and Renewables Face Winter Challenges - 30.09.24. Today’s UK energy market opened with modest gains in both gas and power prices. The NBP Day-Ahead gas price settled at 91.50 p/therm, reflecting a 1.70 p/therm increase from the previous session. This price movement is driven by concerns over supply constraints, with Norwegian production still facing challenges, particularly at Nybro and Kristin facilities. These issues, coupled with a lack of LNG regasification nominations, have tightened the UK system, which opened 12 mcm/day short this morning. Flows from Norway through Langeled are lower, and Vesterled is currently not exporting gas. The overall gas flow was measured at 290.5 mcm/day, the highest recorded exit nominations in over a month, yet the market remains wary as the risk of further supply disruptions continues, especially with winter approaching. In terms of storage, no withdrawals from medium-range storage (MRS) sites were observed, while Rough continues with steady injections. Warmer temperatures for early October are forecast, with a potential peak on October 6th, pushing temperatures nearly two degrees above seasonal norms. Windspeeds are predicted to stay above average early this week, offering a boost to renewable generation. However, a dip in wind generation is expected between October 2nd and 5th. The UK nuclear output remains below full capacity, and further reductions are expected, with output dropping to 4.0 GW by the weekend. Power prices saw similar upward momentum, with the Day-Ahead Base price settling at £76.80/MWh, a significant increase compared to Friday. Day-Ahead Peak prices were even more pronounced, rising to £86.01/MWh. Spot contracts saw the largest gains, driven by the weather forecast and ongoing concerns over gas supply. Looking ahead, power prices for Q125 continue to rise, with the market pricing in potential further supply squeezes as winter progresses. In the wider energy market, Brent crude oil for November delivery settled at $71.98 per barrel, ticking up by $0.38. Coal prices for delivery in 2025 also showed some movement, rising by $2.77 to $123.77/tonne, as global markets continue to balance supply and demand. As we head into October, market participants are preparing for the onset of colder weather and the increased demand that will follow. Supply risks from Norwegian fields and global LNG flows are being carefully monitored, while renewable generation, particularly wind, will play a critical role in offsetting these supply concerns. With temperatures expected to dip below average after October 8th, the balance of supply and demand in the UK energy market will likely tighten further. Traders and stakeholders will continue to watch geopolitical developments, weather forecasts, and the ongoing challenges in gas and power supply as we move towards the end of the year.

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If batteries are so critical to the future of our energy system, why have leading manufacturer Northvolt just announced so many job cuts? Firstly, batteries really will be important in our future energy system. Demand for them will multiples of where we are today - in EVs, homes, businesses and right across the wider system providing an important source of flexibility. In the short to medium term however we are seeing a significant growth in manufacturing capacity - particularly in China. This is happening at the same time as growth in global EV demand is slowing. The result is falling prices for battery prices, and squeezes for higher cost manufacturers. These tend to be those based in the West, such as Northvolt. This is good news for those who want to buy batteries in future, and we can expect the cost of things like EVs and co-located renewable and battery systems to fall further and faster. It's bad news for those making batteries though, particularly in the West, and highlights the question for policymakers once again over how they balance the need to make progress with an affordable energy transition whilst also protecting jobs and economic value at home. Link to the Northvolt announcement in the comments. Image source: Energy Storage Publishing. #batteries #energytransition #ev

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Recent research by Drax Electric Vehicles ⚡, asks businesses what factors are preventing them from installing charge points and starting their EV transition... Financial implications, fears relating to tech suitability and competence, and concerns over derailing day-to-day operations were the most common barriers. Find out more in this latest article or download the full report below👇 #DrivingChangeUK

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Our approach to renewable energy and how we collaborate with our supply chain partners is key to unlocking even more opportunities on our pathway to carbon neutrality.

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Daily #Energy Market #Report - 28th November 2024 - Today’s energy market dynamics highlight a mix of bullish and bearish indicators shaped by weather, supply trends, and international developments. The UK gas system began the day 3mcm undersupplied, reflecting increased demand as temperatures dip to their lowest this week before rebounding above seasonal norms by the weekend. Wind generation is forecast to surge, potentially doubling seasonal averages, which should reduce gas-for-power demand. LNG flows remain robust, with send-outs reaching 87mcm/day and at least ten LNG cargoes anticipated within the next three weeks, supporting supply resilience. Wholesale natural gas prices experienced modest declines yesterday. The NBP Day-Ahead settled at 116.40p/therm, down by 1p, with curve prices softening due to expectations of milder weather and easing geopolitical risks following a Middle East ceasefire. European storage levels, at 87%, continue to meet demand amid ongoing withdrawals. On the power side, UK Day-Ahead baseload prices fell to £105.19/MWh, driven by milder temperatures and an uptick in renewable output. Wind power’s strong contribution has alleviated pressure on gas-fired generation. The curve saw similar price drops, with Winter 2024 contracts at £87.75/MWh, reflecting healthy supply fundamentals and subdued demand outlooks. Carbon markets showed slight weakness. EUAs settled at €68.47/tonne, while UK ETS allowances dropped to £36.01/tonne, reflecting broader energy price movements and market adjustments to upcoming OPEC+ developments. Brent crude remained stable at $72.83/bbl, with minimal reaction to geopolitical news and muted trading ahead of US holidays. Currency movements provided some stability; GBP/EUR and GBP/USD showed incremental strength at 1.1990 and 1.2678, respectively, offering cost advantages for euro-denominated imports. With colder weather still to come and LNG arrivals bolstering supply, markets remain finely balanced. How the system copes with fluctuating wind generation and temperature-driven demand shifts will dictate price trends in the coming days. Stay tuned for further updates.

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#Daily #Energy Report - 22nd November: Today’s UK energy market dynamics reflect a multifaceted picture shaped by colder weather, shifting energy flows, and geopolitical tensions. #Gas and #power prices saw mixed movements, while supply and demand interplay continues to evolve as we move towards the weekend. The NBP Day-Ahead price settled at 121.50 p/therm, up from 117.10 p/therm on 21st November. This increase comes amid a colder spell and notable storage withdrawals across Europe. The UK system opened the day oversupplied by 13 mcm/day, largely due to increased Norwegian imports following an outage at the Kårstø processing facility. Norwegian flows to the UK increased by 9 mcm/day, offsetting the colder weather-driven demand. LNG continues to play a crucial role in balancing the market, with several cargoes expected to arrive at UK shores in the coming weeks. The UK’s positioning as a premium market remains evident, attracting shipments amidst broader European competition. Day-Ahead power prices saw a slight uptick, with the baseload price closing at £104.80/MWh. Meanwhile, the peak price settled at £112.94/MWh. Nuclear outages are adding stress to the power system, with Sizewell B2 offline and additional facilities set to go offline soon. This is compounded by the intermittency of wind generation, which will be critical to monitor as wind speeds are expected to strengthen into the weekend and early next week. Despite the challenges, forecasts suggest temperatures will rise significantly this weekend, up to six degrees above seasonal norms, providing some relief to heating-related power demand. Brent crude remains relatively stable at $74.23/bbl, and the carbon market shows EUA prices at €69.99/tonne, signaling sustained pressure on decarbonisation costs. In currency markets, GBP/EUR is steady at 1.2009, while GBP/USD saw a slight dip to 1.2586, reflecting broader forex trends. The Russia-Ukraine conflict continues to influence market sentiment. Recent escalations and Western sanctions, including on Gazprombank, are reshaping trade and energy flows. This geopolitical backdrop underscores the market’s vulnerability to external shocks as we enter the colder months. Key focus areas include the resolution of the Kårstø outage, the performance of UK wind generation, and the trajectory of LNG imports. With temperatures normalising after the weekend, market participants will closely watch storage levels and inter-regional competition for energy supplies, particularly with Asia. Today’s report reflects a dynamic landscape where adaptability is key, underscoring the importance of robust strategies in navigating the energy market's complexities.

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Daily Energy Market Update - September 2nd, 2024 Today’s UK energy market saw significant movements, particularly in both gas and power prices. The NBP Gas Day-Ahead price experienced a notable increase of 2.65%, reaching 94.79 p/th. This upward trend extended to key contracts such as October 2024, which rose by 2.07% to 96.15 p/th. These price movements reflect the current market dynamics and underlying factors influencing supply and demand. In the power market, UK Base Day-Ahead power prices surged dramatically, with a sharp increase of 42.56%, bringing the price to £91.97/MWh. Even more striking was the rise in peak power prices, which climbed by 56.12% to £93.50/MWh. These significant jumps in power prices can be attributed to several critical factors impacting the market this week. One of the primary drivers is the forecasted shortfall in wind power generation. This week, wind output is expected to fall over 20% below seasonal norms. As wind plays a crucial role in the UK's energy mix, this reduction in generation capacity is putting upward pressure on prompt energy prices, as the market anticipates a tighter supply-demand balance. Adding to the bullish sentiment in the gas market is the ongoing industrial maintenance in Norway, which is set to have a considerable impact on gas flows. With a reduction of 40 million cubic meters per day in Norwegian gas flows, the market is reacting with higher prices as supply tightens. Despite these factors, temperatures in Britain for the week are expected to align with seasonal norms. While this will likely have a limited impact on gas demand, the market is more focused on the supply-side constraints and the reduced wind generation that are driving prices higher. Looking at the broader energy complex, we see TTF Gas Day-Ahead prices inching up by 0.89% to €39.15/MWh, while the Front Month price rose by 2.43% to €39.82/MWh. On the global front, Brent Crude prices declined by 2.46%, now trading at $76.93 per barrel. Meanwhile, in the carbon markets, both UK and EU carbon prices saw minor declines, with UK carbon closing at £43.31 per tonne, down 2.61%. In summary, today’s energy market activity is shaped by a combination of reduced wind generation, significant Norwegian gas maintenance, and stable temperature forecasts. These factors are collectively driving the sharp increases we’ve seen in UK power and gas prices. As we move further into the week, it will be crucial to monitor how these elements continue to influence the market. Stay tuned for more updates, and as always, feel free to reach out with any questions or for deeper insights into these trends.

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Daily Energy Report November 8th: A cool start to the day finds UK energy markets bracing for lower-than-average temperatures across Europe, impacting both gas and power prices. The UK gas system began the morning undersupplied by 10 mcm/day, with colder weather set to intensify from mid-November. Natural gas for power demand is lower on the day-ahead, as wind generation rises, offsetting the need for gas-fired power production. LNG supplies are stable at 33 mcm/day, with three cargoes scheduled for arrival soon, helping to maintain a steady flow of imports into the UK and Northwest Europe. Norwegian exports remain consistent at 331 mcm/day, despite minor disruptions due to unplanned maintenance at key sites. The UK Day-Ahead gas price is at 103.65 p/therm, a slight rise compared to previous days as the seasonal temperature drop begins to reflect in pricing. Expectations for lower-than-normal temperatures, particularly from November 13th onward, are feeding into this price firming. Curve contracts also strengthened, driven partly by broader market influences, including movements in the oil markets and post-election volatility in the US. In parallel, Pan-European gas storage levels remain robust at 94.43%, a comforting buffer as winter demand looms. On the power side, UK Day-Ahead baseload is trading at £96.10/MWh, with high wind generation easing some pressure on gas demand for electricity production. Nuclear output remains steady at 4.7 GW, though two reactors remain offline, accounting for a total of 1.2 GW in curtailed capacity. Wind is expected to continue to play a critical role in balancing the grid over the coming days, while solar output, currently low, is anticipated to exceed normal levels starting Monday. Commodities also show price adjustments: Brent crude for December is up to $75.63 per barrel, while coal for 2025 delivery sits at $121.12/tonne, reflecting steady demand expectations. Carbon pricing for EUAs has climbed to €66.04/tonne, with the UK ETS at £38.00/tonne, underscoring the ongoing pressure on carbon markets amid seasonal adjustments and higher demand forecasts. On the currency front, the pound has seen minor movement, with the GBP/EUR exchange rate at 1.2021 and GBP/USD at 1.2986. This currency stability aids in smoothing import costs, particularly for gas, but shifts in either direction remain likely as winter demand and international market conditions evolve. Today’s market data highlights the intricate balance of supply and demand factors at play as the UK and Europe prepare for colder weather and a potential uptick in heating and power requirements. As conditions shift in the coming days, these factors will continue to define energy prices and trading behaviors across the UK and beyond.

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Another great record being set on the GB journey to Net Zero - handily seeing wind output peaking at 6.30pm to broadly coincide with the highest demand point at this time of year. When this isn’t the case we will continue to need the growing BESS fleet, or see the cost of curtailment increase. Next stop on the journey - zero carbon operation for a single settlement period in 2025. That will be a huge moment.

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Daily UK #Energy #Market Update –Monday 2nd December 2024: Today’s energy markets paint a dynamic picture with fluctuating conditions influencing gas, power, and renewables. As of this morning, the UK's gas system opened long by 12 mcm/day, supported by slightly above-seasonal-normal temperatures. Gas contracts continue to edge upward, influenced by the EU's increased storage fill mandates. Day-Ahead NBP prices stood at 116.30 p/therm, reflecting a 0.95 p increase from the previous session. Seasonal forward contracts also saw gains, with Winter 2025 now priced at 108.57 p/therm. On the power side, Day-Ahead baseload prices decreased to £94.11/MWh, a notable dip from last week. This comes amidst reduced wind generation today, expected to decline by 7 GW before rebounding midweek. Nuclear capacity remains constrained due to ongoing outages at several UK sites, including Sizewell and Heysham. However, the Sizewell B-1 reactor's planned return on 5th December should offer some relief. Internationally, geopolitical tensions added complexity to the gas supply landscape. Russian flows dropped by 3%, following disruptions linked to an arbitration case between OMV and Gazprom. Despite these concerns, LNG imports remain robust, with 12 carriers en route to the UK over the coming weeks, bolstering energy security. Oil prices remain subdued, with Brent crude trading at $72.94/bbl, while coal prices stabilized at $122.80/tonne. Carbon markets also moved slightly upward, with EUA Dec-24 contracts closing at €68.40/tonne. The UK faces a mixed weather outlook this week, with sharp temperature fluctuations expected before stabilising around seasonal norms by 8th December. Wind power variability will likely shape gas reliance over the coming days, maintaining a delicate balance in supply and demand dynamics. Stay tuned for tomorrow’s update as we continue to monitor the impact of these developments on market trends and pricing.

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             Morning Briefing 11/07/2024 IT'S COMING HOME! Day ahead (DA)/Intraday   ·Demand is currently at approx. 27.6GW and due to peak this evening at 31.3GW. ·DA markets auctioned between £60 - £95 yesterday for today. ·Baseload auctioned at @ £73.89 in the 1hr and £73.32 in the 30min auction. ·Wind generation is currently 2.5GW under forecast at 3GW, although is due to peak at 5.3GW this evening before peaking at 6.3GW tomorrow. Solar is due to peak at 6.2GW at 1pm. ·Current intraday power price at time of writing was £80.62/MWh with gas providing 37.4%/11.87GW, wind providing 15.5%/4.91GW, solar providing 11.5%/3.64GW and nuclear providing 14.5%/4.59GW of UK demand. ·DA gas is currently trading at 71.00p/th (2.42p/KWh) ·DA power is currently trading at 73.22/MWh (7.32p/KWh)   Month ahead (Aug 24) ·Aug NBP gas is currently down 0.95% at 70.53p/th (2.41p/KWh). ·Aug TTF gas is currently down 0.66% at €30.58MWh. ·Aug UK Baseload closed at £63.60/MWh (6.36p/KWh) ·UK gas prices continued it’s downtrend yesterday, with the DA price down 0.83% as renewables were slightly subdued today. Along the curve, the Win24 contract was down 1.40% due to the strong supply picture we continue to see that adds to the bearish pressure. ·UK power prices had a mixed day, with the DA price climbing 10.83% due to the forecast drop in renewables today. Along the curve, we saw the market track the gas sentiment, with the Win24 price falling 1.53% due to the strong supply picture and forecast of strong renewables. ·According to Gassco AS, Visund is still unavailable till 15th July, reducing capacity by 5.4mcm. ·Oil prices are positive this morning as investors turned cautiously optimistic about demand after official US inventory data showed declining stockpiles and increased activity by refineries.    ·Latest forecasts continue to show temps to dip below norms this week and then rise back and above seasonal norms at the end of the week. ·After yesterday’s delivery to South Hook, there are no LNG cargoes due in the coming weeks. ·UK Gas prices as of Wednesdays close -  o   Month ahead 71.21p/th (2.43p/KWh) down 2.17% DoD* o   Q4 24 89.26p/th (3.05p/KWh) down 1.49% DoD o   Winter 24 92.75p/th (3.17p/KWh) down 1.40% DoD ·UK Power prices as of Wednesdays close – o   Month ahead £63.40/MWh (6.34p/KWh) down 2.24% DoD* o   Q4 24 £80.02MWh (8.00p/KWh) down 1.64% DoD o   Winter 24 £83.11MWh (8.31p/KWh) down 1.53% DoD *DoD = Day on Day All prices and info correct at time of writing. Eco Logic Partners Jason Gary Lucas Karl Martin #energy #trading #power #gas #markets #renewables #wind #lng #energymarkets #norway

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As of 8th October 2024, the UK energy markets have started the day with notable fluctuations in both gas and power prices, driven by supply constraints and shifting weather conditions. In the gas market, the NBP Day-Ahead price climbed to 100.00 p/therm, reflecting a 2.20 p/therm increase from the previous session. This rise comes amid reduced gas flows from Norway due to ongoing unplanned maintenance at the Asgard field and an extended outage at Troll, impacting total exit flows. Despite this, exports from Norway to the UK via the Langeled pipeline have increased, supporting the UK system, which opened 8 mcm/day long this morning. LNG send-out has decreased to 11 mcm/day, with three new cargoes expected to arrive in the UK over the next three weeks. UK storage injections continue, and pan-European storage remains robust at 94.56%, though minor withdrawals are being observed in some countries. On the power side, the UK Day-Ahead baseload price rose to £89.09/MWh, up by £12.85/MWh compared to the previous session, while the peak load price surged to £94.14/MWh. This price spike is largely due to expected cooler temperatures from tomorrow, which will drive up heating demand through the middle of the month. Wind output remains strong and is forecasted to stay above seasonal norms for the next two days before stabilising at average levels. Nuclear outages continue to play a significant role, with several key plants still offline or under maintenance, further tightening supply. Looking at other energy commodities, Brent crude oil is trading at $80.93/bbl, a $2.88 increase from the previous settlement, driven by a combination of OPEC+ cuts and ongoing geopolitical risks. Coal prices for ARA CIF Cal Y+1 settled at $127.25/tonne, slightly down by $0.54/tonne. In the carbon market, the EU ETS Dec-24 contract fell to €61.76/tonne, the lowest level in six months, while the UK ETS Dec-24 contract dropped to £35.29/tonne. These declines come amid lower industrial activity and cooler weather across the continent. In currency markets, the GBP/EUR exchange rate dipped slightly to 1.1916, while GBP/USD fell to 1.3083, reflecting ongoing global economic uncertainties. As colder weather sets in and supply challenges persist, the UK energy markets are likely to remain volatile. Keep an eye on gas imports, LNG arrivals, and nuclear availability, as these will be key factors influencing prices in the coming days.

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                 Morning Briefing 16/08/2024   Day ahead (DA)/Intraday   ·Demand is currently at approx. 26.6GW and due to peak this evening at 29.3GW. ·DA markets auctioned between £35 - £94 yesterday for today. ·Baseload auctioned at @ £67.29 in the 1hr and £68.90 in the 30min auction. ·Wind generation is currently approx. 1.4GW under forecast at 4.3GW but due to peak at 9.3W later today before dropping to 5.1GW tomorrow. Solar is due to peak at 9.3GW at midday. ·Current intraday power price at time of writing was £89.13/MWh with gas providing 22.2%/6.42GW, wind providing 18.6%/5.39GW, solar providing 11.2%/3.25GW and nuclear providing 19.0%/5.48GW of UK demand. ·DA gas is currently trading at 81.50p/th (2.78p/KWh) ·DA power is currently trading at £63.00/MWh (6.30p/KWh)   Month ahead (Sep 24) ·Sep NBP gas is currently up 0.59% at 96.18p/th (3.28p/KWh). ·Sep TTF gas is currently up 0.86% at €39.98MWh. ·Sep UK Baseload closed at £81.00/MWh (8.10p/KWh) ·UK gas prices had a mixed day yesterday, with the DA price falling 1.27%, although along the curve we saw a late rally, with the Win24 contract closing up 1.03% as Ukraine claimed to have taken full control of a key Russian town for the transit of gas; despite this, the fundamentals of the market continue to be predominantly bearish and a lot of the recent bullish activity being down to large speculative trades by hedge funds. ·UK power prices also had a positive day, with the DA price climbing 28.71% due to the expected drop in wind generation today. Along the curve, the Win24 contract climbing 1.18%, predominantly tracking the gas sentiment as worries around supply continue to ripple through the market despite the current strong supply picture. ·According to Gassco, there are no unplanned outages as of this morning with flows at 331.3msm. ·Oil prices are negative this morning as investors balanced concerns over weak global demand growth, influenced by China’s economic slowdown, against rising tensions in the Middle East and a strong US economy. ·Latest forecasts continue to show temps to hover around or above seasonal norms for the rest of the run.    ·There are currently 2 LNG cargoes due in the coming weeks.   ·UK Gas prices as of Thursdays close -  o   Month ahead 95.62p/th (3.26p/KWh) up 1.52% DoD* o   Q4 24 108.27p/th (3.70p/KWh) up 1.09% DoD o   Winter 24 111.16p/th (3.79p/KWh) up 1.03% DoD ·UK Power prices as of Thursdays close – o   Month ahead £80.95/MWh (8.10p/KWh) up 1.63% DoD* o   Q4 24 £92.27MWh (9.23p/KWh) up 1.18% DoD o   Winter 24 £95.16MWh (9.52p/KWh) up 1.18% DoD *DoD = Day on Day All prices and info correct at time of writing. Eco Logic Partners Jason Gary Martin Karl Lucas Jo David Chart credit - e*star #energy #trading #power #gas #oil #renewables #wind #lng #energymarket #norway

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Morning Briefing 21/08/2024 Day ahead (DA)/Intraday   ·Demand is currently at approx. 25.9GW and due to peak this evening at 28.8GW. ·DA markets auctioned between -£2 - £88 yesterday for today. ·Baseload auctioned at @ £37.05 in the 1hr and £30.61 in the 30min auction. ·Wind generation is currently approx. 1GW under forecast at 11.2GW but due to peak at 18.9W this evening and continue to climb to 19.7GW tomorrow. Solar is due to peak at 6.6GW at 11am. ·Current intraday power price at time of writing was £42.04/MWh with gas providing 7.0%/2.09GW, wind providing 45.2%/13.49GW, solar providing 10.0%/2.99GW and nuclear providing 18.3%/5.47GW of UK demand. ·DA gas is currently trading at 85.00p/th (2.90p/KWh) ·DA power is currently trading at £28.00/MWh (2.80p/KWh)   Month ahead (Sep 24) ·Sep NBP gas is currently up 1.40% at 92.74p/th (3.17p/KWh). ·Sep TTF gas is currently up 0.75% at €38.24MWh. ·Sep UK Baseload closed at £79.75/MWh (7.98p/KWh) ·UK gas prices had a negative day yesterday, with the DA price falling 4.44% as talks of a ceasefire in the Middle East and news of EU gas storage surpassing 90% a few months early provided bearish pressure. Along the curve, the Win24 contract was down 4.34% as the news of healthy storage levels being hit early fed along contracts.   ·UK power prices also had a negative day, with the DA price falling 32.56% due to the forecast high wind generation today causing the DA auction to be negative for several settlement periods. Along the curve, the Win24 contract was down 2.81% tracking the gas sentiment fed into the power market based on the healthy storage picture. ·According to Gassco, there are no unplanned outages as of this morning with flows at 327.7MSm. ·Oil prices are slightly negative this morning on estimates showing swelling US crude inventories and expectations that tensions in the Middle East were easing following a tour of the region by mediators. ·Latest forecasts show temps may dip below seasonal norms a couple of times in the coming weeks then rise above form 27th. ·There are currently 2 LNG cargoes due by 13th September.   ·UK Gas prices as of Tuesdays close -  o   Month ahead 91.46p/th (3.12p/KWh) down 4.86% DoD* o   Q4 24 102.77p/th (3.51p/KWh) down 4.58% DoD o   Winter 24 105.91p/th (3.61p/KWh) down 4.34% DoD ·UK Power prices as of Tuesdays close – o   Month ahead £79.30/MWh (7.93p/KWh) down 3.88% DoD* o   Q4 24 £89.60MWh (8.96p/KWh) down 2.83% DoD o   Winter 24 £92.57MWh (9.26p/KWh) down 2.81% DoD *DoD = Day on Day All prices and info correct at time of writing. Eco Logic Partners Jason Gary Martin Lucas Jo David Chart credit - e*star #energy #trading #power #gas #oil #renewables #wind #lng #energymarket #norway

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National Grid announces £60 billion “Grid for Growth” plan: National Grid CEO John Pettigrew described the investment plan as "unprecedented in its scale and ambition." Approximately £30 billion will be invested in the UK, with an additional £28 billion allocated for improving grid networks in the northeastern US. #growth #investment #Battery #batteryenergystorage #renewables #RenewableEnergy #SustainableFuture #solarenergy #solarpower #renewables #renewableenergy #investment #cleanenergy #cleanelectricity #greenenergy #greenpower #innovation #greeneconomy #greenbusiness #greenfuture #decarbonisation #netzero #change #batterystorage #batterytechnology #electricity #battery #netzero

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