Thursday 1 September 2016

Gas system to be oversupplied – DMR

Gas system to be oversupplied – DMR

The gas system is forecast to be oversupplied, according to npower’s daily market report.

The current linepack is forecast to be just under 19mcm long.

The peak power margin is expected to be around 12.5GW. Wind generation is roughly in line with forecasts and has further scope to ramp up during the day, said Gemma Bruce from the Optimisation Desk.

CCGT generation has picked up the more than 19GW, making up 58% of the stack.

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Ms Bruce added: “Oil prices haven’t shown any sign of recovery thus far since they fell following the US inventory announcements yesterday, which saw stock piles rise.

“Oil is currently trading at $47.14/bbl (£35.6/bbl). In the FX markets the pound is holding onto its bolstered position, valued against the Euro at €1.18. Current strength is being supported by strength in the dollar following some positive consumer confidence data. UK manufacturing PMI [Purchasing Managers Index] data is due out later this morning and is likely to provide further drive for the pound.”

Written by

Bruna Pinhoni

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