The gas system is undersupplied due to maintenance on the Interconnector (IUK), according to npower’s daily market report.
The work is expected to last until 25th June, which has currently reduced European demand following high exports.
The gas linepack is 29mcm short and storage sites have increased injection nominations to 31.2mcm.
Alex Guiot from npower’s optimisation desk said: “The strong demand for injection from Rough and MRS [Market Research Society] are pressuring the prompt, so we could see these levels reduce later today.”
Wind power is generating 1,227MW and solar power is expected to generate 5.7GW.
Peak margins are very comfortable at more than 14GW. CCGT demand is nominating 36.3mcm which is 41% of the stack.
Brent oil is trading at $65.66 a barrel (£42/Bbl).
The euro has strengthening again – £1 is worth €1.36.