NSR PPA and Green Gas Markets Pricing Update:

As expected, Solar generation is performing strongly across North West Europe this week.

Solar in the UK was already delivering over 15% of the demand requirement earlier today.

Belgium Power traded close to negative €300/MWh yesterday on weak demand and renewables.

UK Power prices were also sharply negative through HH periods yesterday.

NBP and TTF Gas is stable this morning.

European gas storage injections continue with inventories now approaching 40% full levels.

On the LNG side China has re-exported more than 285 thousand tonnes over the last month.

This would be the highest volume ever driven by weak domestic demand and robust inventories after a mild winter.

Carbon EUAs have held up well despite some weakness in gas last week.

EUAs are currently around €65.8/ton.

Update 29/04

Good morning

Quick update on European power outages yesterday:

Limited impact on UK system pricing. We peaked at around £200 MWh yesterday evening.

European grids hit by low inertia as a result of high solar and limited “turbine spinning” ie traditional power station/ CCGT….

This resulted in a “Frequency event”.

High solar in a “Shoulder season” perhaps has bigger impact…

This morning the restart is well under way with Spain back at over 95%.

Jamie Banks
PPA Manager at New Stream