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France-UK Power Cable Outage to Last Longer Than Expected

UK
  • National Grid confirm that the France-UK power cable is now set to be halted until the end of March next year, according to Bloomberg.
  • The power cable outage was triggered by an onsite fire overnight, and has contributed to the sharp upside in UK natural gas prices today. Day Ahead forward prices for UK natural gas have traded higher by as much as 20% today and are up 40% since the beginning of September.
  • Initial estimate was for the cable to be out for around one month, but looks like it'll be down for far longer now.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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