Gas system oversupplied – DMR

The UK gas system is 24mcm oversupplied, according to npower’s daily market report. Demand is still below seasonal normal levels as temperatures are above average for this time of the year. […]

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By Jacqueline Echevarria

The UK gas system is 24mcm oversupplied, according to npower’s daily market report.

Demand is still below seasonal normal levels as temperatures are above average for this time of the year.

Rodney Johnson from the Optimisation Desk said: “Temperatures are almost 3°C above seasonal normal today and set to stay above averages until the middle of next week.”

Brent oil is currently trading at $50.35/bbl (£41.28/bbl).

 

Mr Johnson added: “Brent has eased overnight as OPEC enters into talks on agreeing a production freeze. Tough negotiations are anticipated in order to reach an agreement.”

On the power system demand is in line with yesterday despite wind generation being softer today, below 1GW.

Solar is expected to peak at 2.5GW.

Mr Johnson went on: “The French interconnector is exporting into France right now and will continue to do so during most of the day, though flows will reverse from around 5pm, reaching a peak of 2GW flow into the UK.”

The pound is valued at €1.12.

Market trends will be part of the discussions at the Energy Live 2016 conference in London next Thursday. Find out more here and join in the discussions using #EL2016.