Friday 16 September 2016

Gas system balanced – DMR

The gas market has opened up softer this morning and the power market is slow to get going, according to npower’s daily market report.

A balanced gas system and subdued oil prices reflect the softness in prices. The linepack is fairly flat but the system is still being affected by three outages.

It has been announced the Netherlands has used almost 80% of their gas reserves.

LNG outlook is strong, with five tankers due in next 10 days.

[youtube url="https://www.youtube.com/watch?v=VdIMQRj0xtw" width="560" height="315"]

 

Mr Hill added: "Day-ahead prices for 19 September are now at £135/MWh rather than £200/MWh they were a couple of days ago and these prices continue to retreat. For the moment, surplus forecasts for today are 189MW however we may see this push up.

"The Dutch interconnector is importing at full capacity while the French interconnector is at reduced capacity which is reflecting the recent intermittent outages they've had there."

Oil prices remain range bound and is currently trading at $46.03/bbl (£34.80/bbl).

The pound has fallen against the Euro to €1.175.