Prompt power rallied to five-week highs Friday morning tracking similar highs on the NBP gas market and ahead of low forecast wind generation over the coming week, market sources said.
On the OTC market day-ahead baseload was last heard GBP2.70 higher on day at GBP54/MWh while peakload gained the same value to GBP59.50/MWh midday.
“Gas has really gone North,” a trader said, and added that the N2EX auction for Saturday baseload outturned “excessively high for a Saturday” at GBP55.25/MWh against GBP51/MWh pre-auction on the OTC market.
“From there, everything picked up,” he added.
UK POWER: Prompt hits 5-week highs tracking NBP, amid low wind forecasts