Weekly Price Update Report - Week 8
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Energy Market ReportsWeekly Price Update Report - Week 8

Weekly Price Update Report - Week 8

Ian Mckenna

by Ian Mckenna 20 February 2017

Report Summary:

Warmer weather helps lower prices

week-on-week-changes

NBP Natural Gas & GB Power Market Movement

Market prices fell week-on-week with a reduction in household usage and improved warmer temperatures being the main bearish drivers.  Average temperatures in the UK were more than 6 degrees Celsius compared to circa 3 degrees in the previous week. 

Adding to the easing sentiment was news that more LNG cargoes are likely to head to the UK for some of February and a step change improvement in LNG arrivals is expected in March now that maintenance has ended in Qatar and Algeria. Limiting some of the downside in the marketplace was a consecutive weakening of the GB Pound, which settled against the Euro at 1.1699 on Friday compared to 1.1735 the previous week. 

Coal prices also rose during the week 2.13% on concerns that China may cut production in an attempt to curtail the supply glut.  However, the benefit of  improved supply and demand fundamentals outweighed.

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