Friday 17 June 2016

Gas flat to firm with power to follow – DMR

Gas flat to firm with power to follow – DMR

The gas market is looking flat to firm, with power likely to follow.

A fall in the dollar has dragged oil prices with it to under $48/bbl (£33.67/bbl) according to npower's daily market report.

The gas system for the UK is around 6mcm long with average seasonal demand.

According to Sam Hill at the Optimisation Desk, cuts to field plants and an end to outages at Kvitebjoern mean Norwegian flows are relatively unchanged, with Langeled around 46mcm.

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There's no new LNG bound for the UK, South Hook send-out is just over 11mcm. No mid-range storage sites are online but further cuts to Scandinavian supply may change this.

Peak power margins for today are just over 10GW. Wind generation has picked up to 1GW and could rise to 2GW later today.

The French interconnector is at 75% capacity with the Dutch at 30%.

The pound is currently holding onto its bolstered position following positive retail sales data yesterday – currently valued against the Euro at €1.268.

Written by

Bruna Pinhoni

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