A poignant day in British history as 2 cases of the Coronavirus have been confirmed in the UK and after 47 years the UK is set to exit the European Union this evening.
The mild weather since Thursday has reduced the gas demand expected from a typical January, putting further pressure on an already oversupplied market. Friday temperatures are now 3 degrees higher than previously forecast.
LNG imports have been recently been breaking records month-on-month, whilst further supply growth is expected over 2020. There has been an increase of renewable generation making up 42% of the power stack.
The power market is now at the lowest it has been since June 2016. However, the power price development for seasonal baseload this week has not been as dramatic as previous weeks so far this year.
Below is a PPA valuation of a wind asset from the Renewable Exchange Marketplace forecasting tool from January 1st 2020.