UK gas and power markets open lower – DMR

The gas and power markets in the UK have opened lower this morning due to a weather-induced increase in demand. Exports through the Interconnector have nearly stopped while the gas […]

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The gas and power markets in the UK have opened lower this morning due to a weather-induced increase in demand.

Exports through the Interconnector have nearly stopped while the gas send-out from South Hook has increased.

The Norwegian outage (8mcm/day) persists but it could return before the weekend, Client Portfolio Manager Ben Spry said.

Gas demand from CCGT power stations is down at 25mcm. The solar forecasts have fallen to 2GW at peak and wind power stands at 30%.

An increase in peak demand of 5GW has been filled by conventional gas and coal generation.

The UK is importing at maximum capacity through the interconnectors, Mr Spry added.

 

The oil markets have fallen as growth in China, the US and Europe has slowed down.

Greece officially re-entered a recession yesterday. The first quarter of Greece’s performance went down by -0.2% after decreasing by -0.4% in quarter four of 2014.

There has been a governmental surplus €2billion (£1.4bn) above target.

Mr Spry said this suggests “the current party’s efforts on reducing spending and collecting taxes is having a good outcome”.