The UK gas system is 5mcm oversupplied this morning, according to npower’s daily market report.
Langeled flows have reduced to 24mcm from 30mcm on Friday due to planned maintenance on the Kollsnes processing plant which is due to end on 27th August.
South Hook flows are currently 7mcm higher than Friday at 43mcm and are nominated at 51mcm as there are four cargoes scheduled to arrive next week.
Sarah Astley from npower’s optimisation desk said: “Flows from the UK Continental Shelf are currently lower than nominations and if these fail to materialise we could see some price support later on today.”
The power system is healthy with a forecast peak margin of more than 11GW. However wind generation is very subdued at just 0.5GW and has a forecast peak of only 1GW today.
Nuclear generation has reduced to 6.3GW as Hinkley Point B-7 came offline yesterday due to an unplanned outage. Ms Astley added: “The unit is currently expected back on the 23rd August.”
Oil continues to trade below $49 a barrel (£31/Bbl).