Power generation from wind turbines “continues to improve” as forecasts peak at 3GW over the weekend, according to the daily market report.
That’s a rise from less than 1GW through the last week, which was being picked up by gas-fired generators.
Power and gas markets “are slow to get going this morning” but should eventually trade lower against last night’s close as UK gas demand is forecast below 200 million cubic meters (mcm) today, Steven Walker (pictured), Client Portfolio Manager at npower said.
“This is despite demand being supported with 36mcm nominated to flow through from UK to Belgium and Rough nominated to inject 18mcm today. Imports through BBL remain quiet at 5.5mcm”, he added.
Demand is expected to remain supressed into next week but almost 100mcm of Norwegian production capacity will be offline for six days, which is followed by almost 150mcm at the start of June.
On a seasonal normal basis, residential demand looks set to fall by almost 20mcm from now until the end of May, Mr Walker said.
He added: “CCGT demand for gas has dropped to 32mcm from a higher 40mcm yesterday as industrial demand for power falls away into the weekend and temperature forecasts well above normal, keeping a lid on residential power demand.”