Weekly Price Update Report - Week 35
Market Leading Business
Energy Consultants
Your Trusted Commercial Energy Partners
Energy Market ReportsWeekly Price Update Report - Week 35

Weekly Price Update Report - Week 35

Chris Hurcombe

by Chris Hurcombe 29 August 2017

Report Summary:

Power prices surge as gas supply fluctuates


NBP Natural Gas & GB Power Market Movement

Volatility returned to the market last week despite strong Norwegian gas flows towards the end of the week.  With British wholesale gas prices surging on Wednesday on news that lower production from the Troll field would provide reduced Norwegian imports in September. 

NBP spot gas price increased by 0.45 pence, or 1%, at 44.75 p/therm. Further along the curve, the gas contract for Winter 2017 delivery traded 0.80 pence, or 1.66%, higher at 48.84 p/therm. With surges in seasonal gas prices coupled with an Expected decline in wind and nuclear production, lifted the forward curve electricity prices.  With winter 2017 breaking the £50/MWh price range. 

Carbon prices also hit a new 6-month high last week, surging by 2.9% on higher volume, to extend the previous week’s gains.  By the end of the week most of the forward gas prices dropped on Friday, due to an oversupplied system as Norwegian flows increased, this helped calm the market before it entered a national bank holiday.  With British NBP day-ahead price falling almost 1.5% to close at 43.80 p/therm and Winter 2018 delivery contracts trading 0.06% lower at 48.32 p/therm.

Download Full Report For This Weeks Outlook...