The UK gas system has opened undersupplied this morning, according to npower’s daily market report.
The linepack is forecast to close more than 5mcm short.
Norwegian flows through the Langeled pipeline have increased to more than 20mcm today.
Gemma Bruce from npower’s optimisation desk said: “This is largely due to the partial restart of Ormen Lange [Norwegian gas field].”
The Dutch Balgzand Bacton Line (BBL) is nominated at zero, “which is contributing to the short UK system”, Ms Bruce added.
Storage is nominated at 36mcm.
Ms Bruce went on: “However we are likely to see this adjust slightly lower across the day in order to bring the system to balance.”
CCGT demand is at 30mcm.
Renewable feed-in is low with wind generation making up just 2% of the current generation stack.
Imports from the French and Dutch interconnectors are at full capacity. The peak power margin is at 12.8GW.
Ms Bruce said after bailout talks with Greece broke down over the weekend, the European Central Bank froze vital funding support to Greece’s banks.
This forced Greece to shut all banks to prevent mass withdrawals and a collapse of the banks.
She added: “This has seen European shares hammered this morning, facing the worst day since 2011.”
Oil is currently trading at $61.86 a barrel (£39.4/Bbl).