Weekly Price Update Report - Week 23
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Energy Market ReportsWeekly Price Update Report - Week 23

Weekly Price Update Report - Week 23

Debbie  Francis

by Debbie Francis 05 June 2017

Report Summary:

Renewable energy boosts supply


NBP Natural Gas & GB Power Market Movement

Higher demand and reduced offtake of Norwegian resulted in  higher prices at the beginning of the working week which started on Tuesday owing to the Spring bank holiday. Bearishness seeped in Wednesday with the recovery of Norwegian gas. 

Bullish drivers on Thursday were a sharp drop in LNG send out, a forecasted need for gas storage withdrawals and lower gas injection numbers during (interconnector) maintenance but strong UKCS production and relatively strong Vesterled flows for this time of year fought off price gains. 

Markets trended down in parts on Friday thanks to higher Norwegian and UK gas production.  A revised and higher forecast output from renewable energy sources in w/c 05th June also fed through but markets ended the day higher on a stronger coal market and weakening of the GB Pound.

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