Gas system short – DMR

The gas system has opened undersupplied this morning, according to npower’s daily market report. The linepack is currently forecast to close 13mcm short. Gemma Bruce from npower’s optimisation desk said: […]

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

The linepack is currently forecast to close 13mcm short.

Gemma Bruce from npower’s optimisation desk said: “This is largely a result of increased demand which is 23% above seasonal normal levels at present.”

Demand continues to be supported by “healthy storage nominations and strong exports to the continent”. The Interconnector is nominated at 39mcm today.

Storage nominations are higher at 26mcm with only 10mcm of this from Rough and the remainder from medium range storage sites.

Ms Bruce added: “The surge in nominations reflects the lower prices available yesterday and is largely the reason for the short gas system this morning.”

 

There is little change to the power system today with the peak margin forecast at 10GW.

Imports from the continent continue to be at full capacity in the direction of the UK through the French and Dutch interconnectors. Gas-fired generation is still the dominant fuel source.

Ms Bruce went on: “Wind generation, although higher than yesterday’s levels, remains subdued and below forecasts, currently at 1.4GW.” Forecasts for tomorrow are slightly better with a peak of more than 3GW expected to be achieved.

Brent oil is trading a touch higher today at $50.07 a barrel (£32/Bbl).