The price for day-ahead baseload surged higher Wednesday morning amid forecasts that wind power generation is set to more than halve from current levels above 4 GW to less than 2 GW, market sources said.
On the OTC market, day-ahead baseload was last heard 8% higher on the day at GBP49.40/MWh by Platts 11.00 GMT close, while peakload power rose to GBP55.70/MWh from GBP52.50/MWh at Tuesday’s close.
Strong gains were also seen on the N2EX day-ahead baseload power auction which outturned at GBP54.02/Mwh, from Tuesday’s GBP45.87/MWh result.
Power prices rose despite softer NBP gas prices as Thursday’s generation mix was expected to include a stronger share of more expensive gas-fired power when wind output falls.
UK prompt power price surges 8% as wind output set to more than halve