Touch of recovery on power markets

The UK power market saw a “touch of recovery” today mainly due to the “strong losses” yesterday according to the daily market report. Tom Matthews, Client Portfolio Manager at npower’s […]

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By Vicky Ellis

The UK power market saw a “touch of recovery” today mainly due to the “strong losses” yesterday according to the daily market report.

Tom Matthews, Client Portfolio Manager at npower’s Optimisation Desk said: “Gas is a touch higher and the system is roughly balanced.”

He said: “Most of yesterday’s length [has been] eroded by a drop off in flows from Norway and the Netherlands.”

Gas demand in the UK is still “significantly below” seasonal normal levels by about 20% and the gas system is still “fairly fundamentally comfortable”.

Wind at 14% of UK supply and nuclear power are both very strong, added Mr Matthews.

Demand for gas is expected to pick up tomorrow he added which means the power system could be a little “tighter”.