The demand for gas has dropped, according to npower’s daily market report.
Tim Carter from npower’s optimisation desk said: “Today’s total demand is just 147mcm [which is] lower than seasonal normal levels and at least 20mcm lower than last week.”
This is partially due to reduced exports through the Interconnector which are at 10mcm.
Mr Carter added it is also due to “warmer temperatures suppressing domestic demand and partly from better renewable feed-in, meaning there is less demand from CCGT”.
The pound is now worth €1.422 and oil is currently trading at $51.50 a barrel (£33/Bbl).
Mr Carter said this price “hasn’t been seen since January when markets were recovering from the absolute lows of the price crash”.
The gas linepack is currently forecast to close 11mcm long and rough is currently nominating 17mcm for injection today.
Mr Carter added: “On the power side, peak margins are comfortably more than 12GW. Wind is generating nearly 4GW which could climb to nearly 7GW by tomorrow and all the interconnectors are currently importing 3.2GW combined.”