Gas flows to the UK from Norway have picked up today which has led to a “roughly balanced” system, according to the daily market report from npower.
Tom Matthews (pictured), Client Portfolio Manager said CCGT generation “has come off slightly” as a result of the pick-up in wind power which has also eased demand on the gas system.
Contracts have opened lower again today, with the main drivers being weak carbon and improvements in the power and gas systems, he adds.
Mr Matthews suggests the UK retail sales “should give further direction to the Euro and Pound”.
“Also, might see a touch of support later this afternoon as buying interest picks up ahead of the expiry of the April 14th contract so keep an eye on that too”, he adds.