There was a bit of support at the end of last week on the back of the cold weather forecast and lack of wind generation at the time. However, this ended on Monday with further decreases occurring due to a repeated surge in LNG send out – Strong supply fundamentals once again coupled with the continuous high European storage levels and a small gain with renewable energy.
Spot power prices edged slightly higher on Tuesday due to reduced availability of nuclear power because of Heysham 1 & 2 being offline (very minimal impact to prices). On the contrary, however, prices further out declined 2% higher in line with the bearish Gas & Carbon prices.
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