The gas system has opened short today, according to npower’s market report.
Current flows are at 145 mcm, lower than forecasted demand of 158 mcm. This is due to reductions at the St Fergus Shell and Langeled pipeline.
Flows through the IUK (interconnector) to mainland Europe are lower today at 27mcm. This may reduce further to help balance the system across the day.
Wind generation is forecast to fall to below 1 GW today but solar is anticipated to peak at just over 5 GW.
Gemma Bruce from the Optimisation Desk said “Currently gas generation via CCGT facilities are providing around 43% of national power generation, with Nuclear at around 25% and Wind power generation at 14%.”
Both Dutch and French interconnectors are forecast to flow at full capacity.
Brent crude oil is currently trading at $43/bbl.
Currently the pound is worth around €1.195. There could be some movement in sterling exchange rates at noon as the Bank of England announces the official rate.