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UK DA Drops on Higher Wind, Lower Demand

POWER
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Day-ahead prices in the UK dropped from the previous session amid forecasts of slightly stronger wind generation and lower power demand. Gains could be capped on 10 March (Mon) from rising demand as wind is expected at a 34% load factor.

  • The UK day-ahead spot settled at £82.05/MWh from £91.09/MWh on the previous day.
  • Wind output in the UK is forecast to rise to 8.47GW during base load on Saturday from 8.20GW on Friday according to SpotRenewables.
  • Wind will then be at 9.82GW, or a 34% load factor on 10 March (March)– albeit revised lower by 947MW from previous forecasts –  which could cap gains from rising demand.
  • Mean temperatures in London have been revised down over 10-12 March and are expected to drop to 9.5C on Saturday from 10.6C on Friday and above the seasonal average of around 6C.
  • Power demand in the UK is forecast to fall to 29.31GW on Saturday from 32.83GW on Friday, according to Bloomberg. Demand will then rise on 10 March to be at 32.41GW.
  • The 748MW T-Rock 1 gas power plant in the UK had an unplanned outage early this morning due to a fault, with the plant now curtailed by 388MW until 12:30 UTC on 7 March, according to the latest Remit data.
  • Additionally, the 905MW Laga 1 gas power plant in the UK has also had an unplanned outage, with the unit fully offline until 7 March 11:00 UTC.
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Day-ahead prices in the UK dropped from the previous session amid forecasts of slightly stronger wind generation and lower power demand. Gains could be capped on 10 March (Mon) from rising demand as wind is expected at a 34% load factor.

  • The UK day-ahead spot settled at £82.05/MWh from £91.09/MWh on the previous day.
  • Wind output in the UK is forecast to rise to 8.47GW during base load on Saturday from 8.20GW on Friday according to SpotRenewables.
  • Wind will then be at 9.82GW, or a 34% load factor on 10 March (March)– albeit revised lower by 947MW from previous forecasts –  which could cap gains from rising demand.
  • Mean temperatures in London have been revised down over 10-12 March and are expected to drop to 9.5C on Saturday from 10.6C on Friday and above the seasonal average of around 6C.
  • Power demand in the UK is forecast to fall to 29.31GW on Saturday from 32.83GW on Friday, according to Bloomberg. Demand will then rise on 10 March to be at 32.41GW.
  • The 748MW T-Rock 1 gas power plant in the UK had an unplanned outage early this morning due to a fault, with the plant now curtailed by 388MW until 12:30 UTC on 7 March, according to the latest Remit data.
  • Additionally, the 905MW Laga 1 gas power plant in the UK has also had an unplanned outage, with the unit fully offline until 7 March 11:00 UTC.