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Power Market Update – 21st February 2020

February 21 2020

Another week another named storm.

This week sees the UK battered by Storm Dennis, bringing high winds and flooding to most of the country. Wind asset owners find the silver lining to Dennis’s clouds as wind output has been consistently high, averaging a huge 14.21GW for the week and making up 56% of the generation stack on Monday morning.

Parts of the UK see a whole month’s worth of rain in a single day earlier this week. More wet weather and high wind speeds forecast over the weekend.

Elsewhere, gas prices rose early in the week with LNG tankers unable to dock due to stormy conditions. However with stormy weather easing these gains are reversing and set to fall coming into the following week.

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