Wednesday, 5 January 2011

UK spot power prices fell on Tuesday

UK spot power prices fell Tuesday due to lower UK gas prices and the restart
of a nuclear reactor, said traders.

UK OTC power for next-day delivery was last heard at GBP49.85/MWh in base
and GBP55/MWh in peak, down GBP1.65 and up GBP1 from Friday's assessment for

On the N2EX wholesale power exchange, the day-ahead power auction cleared
GBP3.51 lower than the previous day at GBP48.65/MWh.

"Everything has traded lower on gas," said a trader at a large UK utility.

UK gas for next-day delivery was trading at 58.15 pence/therm by midday,
down 3.20 p/therm from Friday's assessment for Tuesday, due to higher flows
on the Langeled pipeline to the UK.

The 220 MW Oldbury-2 nuclear reactor in South Gloucestershire was restarted
early Tuesday morning, data from National Grid showed, adding cheap supply
to the UK power system.

The reactor had been offline since November 11, 2010, due to a fault on a
gas circulator.

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