Election results increase pound value – DMR
The unexpected poll results have made the value of the pound go up, according to npower’s daily market report.
The pound was trading at €1.33 yesterday and is now worth €1.38.
Client Portfolio Manager Alex Guiot said: “It could help the prices to ease down.”
Overall, the gas system is short by 18mcm. Production from Norway has been disrupted due to unplanned outages and UK market is affected the most as flows through the Langeled pipeline are down.
Gas send out hasn’t changed and South Hook is continuing to flow over 30mcm. Wind generation is contributing less than 1% of the stack and forecast indicates it is not expected to increase.
CCGT generation is dominant in the stack, “making up the shortfall in wind and nuclear” Mr Guiot added.
Oil markets have dropped after the 2015 high earlier this week. Oil trading is around $65 a barrel (£42/Bbl).
Article source: http://www.energylivenews.com/2015/05/08/election-results-increase-pound-value-dmr/
