Weekly Price Update Report - Week 51
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Energy Market ReportsWeekly Price Update Report - Week 51

Weekly Price Update Report - Week 51

Debbie  Francis

by Debbie Francis 19 December 2017

Report Summary:

Prices spike to 4-year highs


NBP Natural Gas & GB Power Market Movement

A surge in demand due to near freezing temperatures left the UK system struggling to cope with a shortfall of gas supplies on Monday. New and ongoing outages affected output from Rough, Morecambe, Teesside & Bacton Shell which added to system tightness. Reports of an explosion of a pipeline in Austria boosted prices considerably on Tuesday, especially on continental spot pricing which fed through to the UK market. Mid-week wholesale prices receded as the supply outlook looked set to improve.

The Oil price fell with EIA data showing a rise in US gasoline stocks. The UK energy market showed signs of normalising further on Thursday, wiping out the very strong gains seen earlier in the week. Supply concerns eased with strong imports and reduced demand creating excess supply. Strong imports through the Interconnector and withdrawals from storage also contributing to oversupply coupled with a higher wind output.   By Friday the April-18 annual electricity and gas products closed the week higher compared to the previous Friday (8th Dec) settling +2.17% and +2.97% respectively.

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