Gas is 6mcm long due to a lower demand forecast, according to npower’s daily market report.
Domestic demand is down around 10mcm, making it just under 200mcm.
Supply is better from Norwegian pipelines as maintenance comes to an end, Tim Carter, Client Portfolio Manager said.
There’s a lower gas send-out today at 30mcm but an increase in cargoes during the week means it looks like supply will go up.
Peak margins in the power system are really comfortable at 16GW. There’s around 4% more generation from CCGT than coal.
Mr Carter added: “Wind continues to disappoint”, as it is generated under 250MW.
Oil prices continue to be supported even though the US inventory build doubled the forecast. The builds weren’t as big as expected so prices have picked up, he said.
The pound is being strengthened against the euro, with poor economic data coming out of Spain, France and Germany. Both currencies are doing better against the dollar.