The UK gas system is undersupplied and is 7mcm short, according to npower’s daily market report.
That’s due to a drop in Norwegian flows through the Langeled pipeline which is nominating at 32mcm.
Alex Guiot from the Optimisation Desk said: “This drop is partly compensated by Rough increasing withdrawals and St Fergus having its outages end. It is now nominating twice as much as yesterday at 37mcm.
“Forecasts are still seeing temperatures below average next week. We should have an average of 6.7°C much colder than the seasonal levels of 12°C.”
On the power system, the peak margin is at 9GW.
Wind is generating 800MW while CCGT is providing 57% of the energy mix and coal 12%.
The Dutch and French interconnectors are importing close to full capacity.
Brent oil is trading at $43.46/Bbl (£29.9/Bbl).
Mr Guiot added: “The oil market doesn’t need much time to digest the news, apparently the Doha meeting being a complete failure was a scenario expected by most of the players. Saudis do not want to cede market share, a strategy which was as clear today as several quarters ag but the door is not fully close to a deal. The next bi-annual OPEC meeting on the 2nd of June is where players will focus on starting from today while the oil world is entering a low demand season.”