Gas and power prices softer – DMR

Gas and power markets have opened softer this morning, according to npower’s market report. The gas system has opened in length today with the closing linepack expected to be 24mcm […]

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By Jonny Bairstow

Gas and power markets have opened softer this morning, according to npower’s market report.

The gas system has opened in length today with the closing linepack expected to be 24mcm higher than the open.

There are strong exports to the continent, with the IUK flowing more than 33mcm to Belgium as well as stable flows from Langeled at 16mcm and LNG send-out of 23mcm.

 

Gemma Bruce from the Optimisation Desk said: “Power margins are comfortable at 14GW this morning, aided by lower demand and also strong renewable generation with wind contribution at over 11% this morning. Full imports through both the French and Dutch interconnectors are also adding to the system comfort.”

Oil is currently trading at $41.65/bbl (£31.22/bbl).

Ms Bruce added: “The pound saw some recovery against the euro yesterday but there may be some further movement in the currency market later today. £1 is currently worth €1.1875.”