UK wind generation is expected to drop off to less than 1GW today, according to npower’s daily market report.
As a consequence, the peak power margin is forecast below 8GW.
Tim Carter from the Optimisation Desk said: “That had increased the demand on CCGTs today which currently provide 17GW of generation but there isn’t much support for prices as availability elsewhere is good.”
On the gas system, the linepack is forecast 12mcm oversupplied.
Flows from Norway through the Langeled pipeline are at 69mcm.
Mr Carter added: “There are also higher nominations from South Hook, which have had an additional tanker confirmed for the 9th of March but these are mostly offset by slightly lower Rough withdrawals.”
Bren oil is currently trading at $36.6/bbl (£24.8/bbl).
Mr Carter went on: “Oil prices had an unusual bounce yesterday afternoon, despite a US crude inventory build of over 10 million barrels last week, Brent contracts soared to nearly $37.5/bbl (£25.5/bbl). On the news that US production had seen another weekly decline prompt some panic buying before the bearish sentiment returned.”