The UK gas system has opened long this morning, according to npower’s daily market report.
The linepack is forecast to close 19mcm in length as demand is below seasonal normal levels due to milder temperatures.
Flows from the Langeled pipeline at 74mcm as well as lower flows through the St Fergus terminal and the Dutch BBL are also supporting the oversupplied system.
Samuel Hill from the Optimisation Desk said: “The long range storage site Rough is also nominating at just over 11mcm. LNG send-out continues to be minimal with no takers expected in UK waters.”
On the power system the peak margin is expected to be below 9GW later today.
Wind is generating 5GW, however it is forecast to drop during the day.
Gas-fired generation is at 24GW, while coal is at 5GW.
Mr Hill added: “Like yesterday, we have no imports through the interconnectors, which remain on export mode fuelling continental demand.”
Oil is currently trading at $55.16/bbl (£43.02/bbl).
Mr Hill went on: “The market continues to assess the impact of the production freeze agreement, this is amid news that global oil demand is expected to rise more strongly than expected next year. The IEA has revised estimates on Chinese and Russian consumption, this predicted rise may lend further support as the market assesses the full impact of the joint supply cut.”