Demand for gas and power has increased to just above seasonal normal levels today, according to npower’s daily market report.
That’s due to a drop in temperatures and the linepack is forecast to close around 10mcm short.
Power and gas prices have opened “slightly higher” this morning and oil has increased above $67/bbl as a drop in stockpiles is forecast, said Client Portfolio Manager Sarah Astley.
Wind generation has fallen as predicted, currently generating 0.7GW. It is forecast to produce above 3GW tomorrow and 5GW during the weekend.
It is expected to fall again to between 1GW and 2GW from Tuesday.
“The pound continues to see strength following the election result, having gained almost 4% against the euro over the last week. There is a flurry of data due for release this morning including UK unemployment rate and Euro-zone industrial production and so this could provide direction today,” added Ms Astley.