MNI China Daily Summary: Thursday, March 13

MNI BRIEF: China Has Been In Communication With U.S. On Trade

MNI BRIEF: China To Enhance Customs Clearance

MNI BRIEF: China Consumer Satisfaction Up

MNI: PBOC Net Drains CNY68.6 Bln via OMO Thursday

MNI: PBOC Sets Yuan Parity Higher At 7.1728 Thurs; -0.64% Y/Y

US EIA:NAT GAS STORAGE -62 BCF TO 1,698 BCF MAR 07 WK

MNI: US FEB FINAL DEMAND PPI +0.0%, EX FOOD, ENERGY -0.1%

MNI: US JOBLESS CLAIMS -2K TO 220K IN MAR 08 WK

GERMANY: Union/SPD Migration Alignment After Turmoil Threatened Debt Deal (BILD)

GERMANY: Official Interim Election Results Tilt Towards Missing BSW & FDP

© 1982-2025 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

POWER: UK Day Ahead Costs Remain Elevated, Eye Drop for 15 March Delivery

POWER
BulletPower BulletsEnergy BulletsCommodities

Day-ahead prices in the UK remained elevated from the previous session as wind output in the country is expected to drop by just over 2GW on the day, offsetting lower demand. However, spot prices could be weighed down for 15 March delivery as wind is anticipated to rebound, coupled with typically lower weekend demand.

  • The UK day-ahead spot settled at £103.77/MWh from £103.53/MWh on the previous day.
  • Wind output in the UK is forecast to drop to 3.48GW during base load on Friday from 5.91GW on Thursday according to SpotRenewables.
  • Wind will then rise to 4.49GW, or a 16% load factor on 15 March (Sat)– which could weigh on costs, coupled with a drop in demand.
  • Mean temperatures in London have been revised up over 13-18 March by as much as 1C and will flip above the 30-year norm on 19 March – remaining above until at least 27 March.
  • Average temperatures in London are expected to drop to 3.08C on 14 March from 4.22C on 13 March.
  • Power demand in the UK is forecast to drop to 33.70GW on Friday from 34.38GW on Thursday according to Bloomberg. Demand will then fall further on 15 March to be at 31.04GW.
194 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.

Day-ahead prices in the UK remained elevated from the previous session as wind output in the country is expected to drop by just over 2GW on the day, offsetting lower demand. However, spot prices could be weighed down for 15 March delivery as wind is anticipated to rebound, coupled with typically lower weekend demand.

  • The UK day-ahead spot settled at £103.77/MWh from £103.53/MWh on the previous day.
  • Wind output in the UK is forecast to drop to 3.48GW during base load on Friday from 5.91GW on Thursday according to SpotRenewables.
  • Wind will then rise to 4.49GW, or a 16% load factor on 15 March (Sat)– which could weigh on costs, coupled with a drop in demand.
  • Mean temperatures in London have been revised up over 13-18 March by as much as 1C and will flip above the 30-year norm on 19 March – remaining above until at least 27 March.
  • Average temperatures in London are expected to drop to 3.08C on 14 March from 4.22C on 13 March.
  • Power demand in the UK is forecast to drop to 33.70GW on Friday from 34.38GW on Thursday according to Bloomberg. Demand will then fall further on 15 March to be at 31.04GW.