The gas system has opened 5mcm oversupplied this morning, according to npower’s daily market report.
Alex Guiot from npower’s optimisation desk said: “The length today is provided by healthy flows from Langeled at around 70mcm and above seasonal temperatures suppressing gas demand.”
Temperatures are almost two times higher than seasonal normal levels and it is expected to be the warmest December on record. LNG flows have dropped to 24mcm.
The peak power margin is “very healthy” at more than 12GW. Stormy winds are largely contributing to this as wind generation is currently providing 2.5GW and is expected to increase to 7GW later today.
CCGTs are providing 33% of the stack and coal is generating 22%. The Dutch interconnector is importing at full capacity and the French one is at its cap level of 1.5GW.
The pound is currently worth €1.40. Oil is currently trading at $44.80 a barrel (£30/Bbl).