Thursday 14 April 2016

Power margin tight – DMR

Power margin tight – DMR

The UK power margin is tighter than yesterday, according to npower’s daily market report.

It is under 10GW as wind generation has dropped below 1GW.

However CCGT generation has risen to 20GW providing 54% of the power mix while the French and Dutch interconnectors are importing under their capacities.

The gas system is short with the linepack forecast to close at 41mcm.

That’s due to reduced Norwegian flows. Those through the Langeled pipeline have been cut by 40mcm to 25mcm.

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Sam Hill from the Optimisation Desk said: “Dutch BBL is also lower around 13mcm. There is no support from storage facilities with Rough extending its gas reduction by another four days up to the 18th of April. South Hook LNG send-out is around 32mcm with no new tankers scheduled to dock.”

Brent oil is trading at $43.5/bbl (£30.4/bbl).

Mr Hill added: "Despite the rising stockpiles announced in the US inventory data yesterday afternoon oil has held onto its position... The market is optimistic about the potential gains ahead of OPEC’s meeting on the 17th of April to discuss a production freeze."

Written by

Bruna Pinhoni

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