Britain’s gas supplies are sufficient until the end of September and will also export to Europe, pipeline gird owner National Gas Transmission has confirmed.
Total UK gas demand was forecast at 33.3bn cubic metres (bcm) this summer versus 42.1bcm in the same period of 2022, the network group said in its annual summer outlook.
Supply, mainly from the North Sea and Norway, was forecast to be 33.25bcm compared to 42.2bcm last year, it added.
NGTS added that the market overall is more stable than twelve months ago when disruption from the Ukraine war sent prices spiralling higher.
As a result, exports to Europe are likely to fall to 5.5bcm from 12.16bcm last summer.
"There are hints of greater stability in the energy market going forward as price differentials narrow and forward price curves reduce," the report said.
European storage levels ended the winter season at 56%, well above the five-year average and are on track to hit 90% by November.
Electricity System Operator (ESO) also said it expected sufficient electricity supplies this summer and would be able to export some by interconnector cable.
"We expect to have sufficient operational surplus to support some exports to Europe throughout summer if needed," it said.
ESO said electricity prices in Britain were expected to be lower this summer than in 2022 partly due to high European gas storage levels that were helping lower energy prices.