Weekly Price Update Report - Week 39
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Energy Market ReportsWeekly Price Update Report - Week 39

Weekly Price Update Report - Week 39

Nathaniel Taylor

by Nathaniel Taylor 25 September 2017

Report Summary:

Prices lower as supply returns

week-on-week-changes

NBP Natural Gas & GB Power Market Movement

The week opened with prices pulling back from the previous working day, tracking movements in the coal and oil markets. The onset of maintenance at the Easington terminal lifted prices on Tuesday: this event rendered the UK gas network tight although the risk of a supply shortfall was mitigated by reduced exports of UK gas tot he continent. 

Markets fell mid-week with rising gas flows through the UK’s main import pipeline and on lower-than-expected demand.   The imminent end of maintenance at Troll, Kollsnes and Bacton also contributed to bearishness that day.

Thursday saw prices fall further despite undersupply, lower Norwegian gas inputs, the risk of the Bacton Shell field not returning as scheduled and colder than forecasted weather.  Lower demand for gas from the power generation sector helped to limit excess demand that day along with expectations of improved gas imports.  Overall by Friday, annual energy products lost value week-on-week with the October-17 annual electricity and gas contracts closing lower by 1.78% and 0.82% respectively.

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