Gas and power prices have opened lower this morning, according to npower’s daily market report.
The main drivers are a “well supplied” gas system despite higher demand and Russia resuming gas supplies to Ukraine.
The linepack is currently forecast to close 38mcm long and demand is around 9% above seasonal normal levels, said Sarah Astley from the Optimisation Desk.
Langeled flows “remain healthy” after an increase on Friday, currently flowing at 65mcm. LNG flows from South Hook have risen to 54mcm.
The power system is “relatively comfortable” with a peak margin of 8.5GW.
The French interconnector remains at half capacity as planned maintenance continues and wind is currently generating just under 1GW with a peak of 1.8GW expected this evening.
CCGT has ramped up in response, currently generating 14.8GW (38.5%).
“Oil continues to trade around $53/bbl following the upward revision of demand for 2015. It is a bank holiday in the US today so prices are likely to see little movement”, Ms Astley added.
She went on: “The pound is 0.25% down against the euro week-on-week following losses on Friday due to poor UK construction data.”