Weekly Price Update Report - Week 50
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Energy Market ReportsWeekly Price Update Report - Week 50

Weekly Price Update Report - Week 50

Nathaniel Taylor

by Nathaniel Taylor 11 December 2017

Report Summary:

All change with cold snap


NBP Natural Gas & GB Power Market Movement

Prices rises occurred on Monday on expectations of lower temperatures.  However, the UK gas network was oversupplied with gas flows through the BBL gas line from the Netherlands in particular remaining high.   

Markets fell on the second day despite a slightly colder forecast for the beginning of January, higher coal prices and an unplanned outage at the Bacton terminal. The gas market was slightly oversupplied boosted by continued high flows through the BBL gas line. 

A milder short term weather forecast and a greater output from wind farms were factors that outweighed the risks and generated price falls. The oil price also fell on strong US oil production.  Mid-week, markets were strongly down, once again the UK’s gas grid having excess supply.  LNG send-out from South Hook was marginally higher with one cargo having docked the previous working day. Robust wind power production, a stable LNG outlook and the oil price attaining $61s meant that prices continued in a downward trajectory on the penultimate day. 

By Friday the April-18 annual electricity and gas products closed the week lower compared to the previous Friday (1st Dec) settling lower by 2.13% and 2.38% respectively.

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