Monday, 17 January 2011

Electricity Prompt unchanged on good supply availability

UK prompt power prices were unchanged Friday, close to a seven-week low,
following the restart of two nuclear reactors on Thursday, said traders.

UK OTC power for Monday delivery was last heard at GBP47.40/MWh in base and
GBP53/MWh in peak, up a mere 15 pence and 35 pence, respectively.

"Margins are very comfortable, there's no pressure on the system," a trader
a large UK utility said. "It doesn't get cold until the back end of next
week," he added.

The 220 MW Oldbury-2 nuclear reactor in southwest England restarted early
Thursday morning, and the 480 MW Hinkley B8 reactor restarted in the
afternoon, boosting supply margins.

Output from the UK's nuclear reactors increased above 8 GW for the first
time in a week on Friday as a result, data from National Grid showed.

Wind output will remain high on Friday and Saturday, according to National
Grid. It was unclear whether this would be sustained into next week.

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