Residential demand for gas is expected to fall by around 35% this month, according to the daily market report from npower.
“With lighter storage demand this summer, we could see additional pressure on front gas contracts in the coming weeks although heavy Norwegian maintenance beginning next week could provide some support”, Client Portfolio Manager Steven Walker (pictured) said.
BBL flows are restored to just below 20 million cubic meters (mcm) and Rough injection demand is slightly lower at 16mcm today, he added.
Gas demand from Combined Cycle Gas Turbine (CCGT) power plants “remain elevated” at almost 32 million cubic meters and wind generation currently stands below 1GW.
Looking at the power system, Mr Walker said: “The Dutch power interconnector is expected to import the UK at half its capacity, increasing the call on gas generation to fill the shortfall.
“June 14 power has opened 50p/MWh lower this morning as LNG send out remains close to 50mcm.”