Gas and power markets firmer – DMR

The UK’s power and gas markets have opened firmer today, according to npower’s daily market report. That’s due to an increase in oil prices and a weaker pound. The gas […]

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By Jacqueline Echevarria

The UK’s power and gas markets have opened firmer today, according to npower’s daily market report.

That’s due to an increase in oil prices and a weaker pound.

The gas system is balanced and the linepack is forecast to close 0.4mcm long.

Gemma Bruce from the Optimisation Desk said: “Flows remain relatively unchanged with Norwegian flows via the Langeled pipeline at just below 13mcm while LNG send-out is stable at 35mcm following the arrival of a tanker at the South Hook terminal yesterday.”

 

On the power system, the peak margin is above 11GW.

Wind is generating 1GW but is forecast to increase tomorrow.

The French and Dutch interconnectors are importing at 1.4GW and 600MW respectively.

Ms Bruce added: “Oil prices have firmed today although remain below the $50/bbl (£38.5/bbl) mark as US industry data showed that stockpiles have fallen last week. With the recent increase in the oil markets, the recovery has prompted US producers to begin returning drilling rigs to service which could see the decline in output start to slow.”

The pound is valued at €1.16 and $1.29 respectively.