UK exporting lots of gas to Europe – market report

The UK is sending Europe plenty of gas through the pipeline to the Netherlands today according to the daily market report. This usually happens when prices on the continent are […]

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By Vicky Ellis

The UK is sending Europe plenty of gas through the pipeline to the Netherlands today according to the daily market report.

This usually happens when prices on the continent are higher so gas sellers can get better returns.

Ben Spry, Optimisation Desk Manager for npower said: “The gas system opened around 4mcm short this morning. This is on the back of BBL flows a little bit lower that we had yesterday.

“Also we’re exporting a lot of gas from the UK through the interconnector to the rest of Europe today.”

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He said short term energy prices on the wholesale market are dropping slightly: “We’ve seen those soften both for gas and power, that’s as we enter a period of subdued demand due to these above seasonal norm temperatures we’re experiencing.”

Wind power dropped off a lot this week, said Mr Spry: “That slack has been picked up by gas fired generators.”

Prices for power in winter 2014 have lowered a little, added the analyst.