Gas system balanced – DMR

The gas system has opened roughly balanced, according to npower’s daily market report. Norwegian flows through the Langeled pipeline are nominated at just under 50mcm this morning. Temperatures are 3°C […]

Register now!

By admin

The gas system has opened roughly balanced, according to npower’s daily market report.

Norwegian flows through the Langeled pipeline are nominated at just under 50mcm this morning.

Temperatures are 3°C above seasonal normal but are expected to drop at the end of the week.

Alex Guiot from npower’s optimisation desk said prices were slow to open this morning ahead of two announcements.

He added: “The first one is Amber Rudd’s speech confirming the UK will shut its dirtiest coal power plants before 2025. Gas and nuclear are both central in plans to secure energy supplies in the future and those technologies will replace ageing coal stations.

“The second one is the court decision announcement regarding production levels at Groningen – the Dutch gas field.”

 

The peak power margin is comfortable above 10GW due to high wind generation providing 4.9GW. CCGTs are providing 26% of the stack and coal 24%.

The Dutch interconnector is importing at full capacity and the French one is at its cap level of 1.5GW.

Oil is currently trading at $44 a barrel (£29/Bbl) as US stockpiles declined. The pound is now trading at €1.40.