Gas system still long – DMR

The gas system has opened oversupplied again this morning, according to npower’s daily market report. The linepack is expected to close 8.2mcm long. Norwegian flows through Langeled are “a touch […]

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The gas system has opened oversupplied again this morning, according to npower’s daily market report.

The linepack is expected to close 8.2mcm long.

Norwegian flows through Langeled are “a touch lower” at 39mcm. Gemma Bruce from npower’s optimisation desk said: “Dutch flows through BBL [Balgzand Bacton Line] continue to be at zero and are not expected to increase anytime soon.”

Norwegian gas firm Gassco has announced maintenance activities will take place at the Troll gas field on 7th August. “This will have a volume impact of 110mcm and therefore is expected to lower Langeled flows during the outage”, Ms Bruce added.

 

Margins on the power system remain “reasonably comfortable” at 13.3GW with imports from the continent at full capacity in the direction of the UK.

Wind generation is currently at 1.6GW but is forecast to drop across the day to 300MW overnight.

Gas-fired generation continues to dominate the power stack, contributing 35% and is followed by nuclear generation at 22% and coal at 21%.

Ms Bruce said: “The Brent oil contract is holding steady at $53.82 (£34/Bbl) despite a 4.2 million barrel drop in crude stocks, according to EIA data, which was a great deal larger than analysts expected.”