Weekly Price Update Report - Week 28
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Energy Market ReportsWeekly Price Update Report - Week 28

Weekly Price Update Report - Week 28

Ian Mckenna

by Ian Mckenna 10 July 2017

Report Summary:

Prices tighten across week

week-on-week-changes

NBP Natural Gas & GB Power Market Movement

Markets rose on Monday on undersupply with higher continental gas exports.  A higher LNG send-out did however reduce the impact of system undersupply.  Markets open down on Tuesday despite lower wind speeds and nuclear outages.  Stronger Norwegian gas flows, LNG arrivals, an outlook for lower demand and CCGT demand dampened prices. On Wednesday, some disruption at St Fergus Mobil meant lower UK gas production. Wind speeds remained reduced and nuclear plant outages kept CCGT demand robust. However, Norwegian flows were strong and helped to alleviate supply risk.

Prices for August 2017+ closed higher on Thursday, a consequence of a higher oil market following API reports that US stock and inventories had reduced week-on-week. The GB Pound also weakened that day and contributed to the rising price trend. By Friday, the October 17 annual electricity and gas contracts closed higher by 0.54% and 0.34% respectively when compared to the same day in the previous week. The Oil price ended the week lower by 2.53% limiting prices gains during the week.

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