The gas markets have opened up well due to an under supply in the system, according to npower’s daily market report.
The Interconnector exports are still strong at 39mcm and flows from Norway are quiet. Gas send out is just under 30mcm.
The power system is comfortable. Wind generation is above 4GW and could pick up more than 6GW this afternoon. Peak margins are more than 16GW.
Client Portfolio Manager at npower Alex Guiot said: “These elevated wind levels may last a few days before dropping off, while peak solar feed in is pretty average in the 3-4GW range most of the week.”
The Combined Cycle Gas Turbine (CCGT) still dominates the stack with 30%, while coal generation is at around 24% and nuclear 19%.
The oil markets fell slightly this morning after the news of the Saudis ending bombing raids on Yemen but they have since recovered and remain at $66 a barrel (£42Bbl).
Mr Guiot concluded: “Foreign exchange markets haven’t moved much over the bank holiday weekend but with uncertainty leading up to the UK election this week expect some sterling weakness.”