Daily Energy Market Report Tuesday 22nd Jan 19. The UK system is long today, opening with a 20.1mcm despite demand lifting to 369mcm, the highest since 2nd March as temperatures are expected to plummet for the next couple of days.
Total UK demand is expected to sit 77mcm above seasonal average.
Norwegian flows and remain at capacity flowing at 75mcm, the BBL is at capacity flowing at 47.3mcm and imports through the IUK have increased to 7mcm.
LNG remains abundant in the UK, as has been the case for a number of months now, bringing a constant supply chain to the UK allowing LNG imports to climb to 69.3mcm this morning.
On top of colder weather arriving, there is a reduced wind level ensuring that gas burn for power generation is up at 86mcm today.
Despite cold weather and strong gas burn, the UK market has weakened slightly against the closing prices on Monday.
Longer-range weather forecasts have turned slightly milder and upcoming temperatures for next week are now set to deliver above seasonal norms compared to the views from last week.
The GBP strengthened on Monday following further Brexit debate in parliament as the PM spoke about how she is to stop the stalemate between parties.
Daily Energy Market Report Tuesday 22nd Jan 19 brought to you by British Utilities