Day-ahead gas contracts have dropped to around 37 pence per therm today – the lowest price since 2010 – as a result of healthy supplies and low demand, according to the daily market report from npower.
There have been increased flows from the BBL and Langeled pipelines as the Rough storage facility is completely shut for maintenance today and tomorrow, Client Portfolio Manager Sarah Marshall (pictured) said.
“The line pack is currently forecast to close 35mcm long today due to a reduction in demand, with demand dropping around 14% below seasonal normal levels”, she added.
On the power front, the peak margin is “healthy” at more than 15GW as a result of lower demand. Wind generation currently stands at around 0.2GW and CCGT remains the dominant fuel source at around 14GW.
Oil is trading at just below $109 per barrel today.