Gas market slow – DMR

The power market is relatively slow to get going this morning, according to npower’s daily market report. Gas market contracts are up on the close as strong Brent and a weak […]

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By Jonny Bairstow

The power market is relatively slow to get going this morning, according to npower’s daily market report.

Gas market contracts are up on the close as strong Brent and a weak pound prevail.

The UK gas system is set to close more balanced than yesterday, although the system is still just over 4mcm long.

A decrease in Norwegian Langeled flows and an increase in IUK exports is aiding this.

 

Sam Hill from the Optimisation Desk said: “Even warmer weather than yesterday is forecast for the UK today, pushing demand lower. Power demand is set to peak around 33.5 GW today.”

Solar generation is likely to be lower than yesterday, though wind will peak higher. Wind generation is currently contributing 2% of the power supply stack.

Gas has stepped up to 55% and Nuclear generation is at 25%.

Brent is currently trading around $48.01/bbl (£37.02/bbl).

The pound is changing hands at €1.148 this morning, close to 3-year lows, and the dollar has softened.