Gas prices firmer – DMR

Gas prices have firmed up a touch across the prompt market, according to npower’s daily market report. That’s because demand is expected to be 10mcm above seasonal normal levels and […]

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By Jacqueline Echevarria

Gas prices have firmed up a touch across the prompt market, according to npower’s daily market report.

That’s because demand is expected to be 10mcm above seasonal normal levels and temperatures are forecast to be below degree average for this time of the year.

The system is 4mcm short.

The power system is comfortable with the peak at 10GW.

 

Wind is generating 3GW and is expected to reach 4GW later today.

Nicholas Morgan from the Optimisation Desk said: “Brent oil has been hovering over around the $50/bbl (£41/bbl) mark as the market awaits further direction from any OPEC announcement. Particularly shown as members start to bolster their leadership teams to negotiate the cut.

“Continued competition in the US shale drilling industry provides support for the downside risk in the market.”

The pound is currently worth €1.10.