UK punctual power rates increase on reduced wind yet nuclear return restricts gains

Prompt power prices in the UK increased on Monday on forecasts for low wind power generation, yet gains were silenced as even more nuclear ability came back online, sources claimed.

The baseload power for Tuesday shipment was last heard trading at GBP49.25/ MWh, increasing GBP1.35 over Friday's assessment for Monday power, while the peak day-ahead contract was valued at GBP56.50/ MWh before Platts' 11:00 am London time close, 75 dime regarding the previous close.

Team of companies to invest approximately $2.1 bil in United States power, gas T as well as D -ahead public auction outturned slightly over the OTC cost at GBP49.64/ MWh on the N2EX and APX exchanges on Monday.

"Wind is certainly lower ... and also many [plants are] back as planned," an investor said.

According to National Grid information, wind power generation is anticipated to strike 2 GW on Tuesday, less than Monday's forecast of 2.8 GW, which is much below wind outturn of around 5-6 GW reached with the week.

Peak power demand climbed up above 50 GW during the begin of week 47, with expected demand hitting 50.5 GW Monday and also Tuesday night, above peak need of around 49.5 GW recently, National Grid information showed.

Meanwhile, EDF Power on Monday said that the 520 MW nuclear unit 22 at its Dungeness B power station returned on-line at 12:15 am on Sunday, after it was closed down on October 13 to attend to a generator hydrogen leakage.

On the generation side, electricity created by nuclear power plants in the UK amounted to 4.9 GW at noontime Monday, slightly above 4.6 GW seen on Friday, the Grid information revealed.

Coal-fired nuclear power plant contributed 13.8 GW of power to the grid on Monday, or 31.9% of total supply, while gas-fired power plant, representing 39% of the fuel mix, included 3 GW more electrical energy than coal plants at 16.8 GW at noontime Monday.

Power produced from wind power stood at 2.5 GW, or 5.7%, while solar and also hydro generated 480 MW as well as 749 MW of power on Monday.

Forecaster CustomWeather sees temperature levels throughout the UK to remain 1-3 levels Celsius above seasonal norms this week with London anticipated to increase 2 C over norms to 12/7 C on Tuesday.