Gas system short – DMR

The gas system is undersupplied today, according to npower’s daily market report. The linepack is currently 5mcm short. Norwegian flows via the Langeled pipeline remain in line with recent levels […]

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The gas system is undersupplied today, according to npower’s daily market report.

The linepack is currently 5mcm short.

Norwegian flows via the Langeled pipeline remain in line with recent levels at 16mcm.

LNG send-out remains stable at 29mcm.

Alex Guiot from npower’s optimisation desk said: “Another tanker is confirmed to arrive on the 20th July with a further two potentially also on route to the UK before the end of the month.”

 

Wind generation has increased, providing 1200MW of power.

The solar generation forecast continues to increase from yesterday. Mr Guiot added: “We are expecting 5.4GW later today.

“As a result, CCGT demand is nominating 36mcm, which represents 40% of the stack this morning.”

The pound has continued to strengthen strongly against the euro as the Greek Prime Minister is having “hard times to maintain its government”, Mr Guiot said.

He went on: “The situation continues to dominate headlines with an International Monetary Fund study published yesterday showing Greece needs far more debt relief than the European governments have been willing to contemplate so far.”

A pound is now worth €1.42.

Mr Guiot added: “This currency swing is applying some pressure to the curve, countering strength from tighter fundamentals and a tick up in oil prices.”