The power system in the UK is “reasonably comfortable” today.
That’s according to npower’s daily market report which adds “healthy” wind generation is currently making up 13% of the power generation stack.
The power margin is forecast to be around 9GW later today while wind production is expected to fall, potentially creating extra demand from CCGT.
The gas system is forecast to close 3mcm short today as continued healthy flows from the Langeled pipeline and BBL help to balance the gas system at 58mcm and 23mcm respectively.
Alex Guiot from the Optimisation Desk said: “We are seeing strong flows from the UK to Belgium through the IUK pipeline at 13mcm as a continued weak pound helps to support selling gas to the continent.”
Failed talks in Doha between OPEC producers have suppressed the oil price gains seen last week.
Mr Guiot adds: “Brent oil contracts last traded at around $41/Bbl (£28.9/Bbl) after hitting highs of $44.50/Bbl (£31.4/Bbl) last week. The outcome of the meeting was expected to see production levels frozen at January 2016 levels but no agreement was made as Iran did not send a representative and the minster from Saudi Arabia continued his stance on only agreeing to a freeze if Iran would agree to one.”