Weekly Price Update Report - Week 10, 2018
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Energy Market ReportsWeekly Price Update Report - Week 10, 2018

Weekly Price Update Report - Week 10, 2018

Chris Hurcombe

by Chris Hurcombe 05 March 2018

Report Summary:

Prices hit 10-year highs


NBP Natural Gas & GB Power Market Movement

Extreme weather and supply disruptions resulted in the spot market attaining multi year highs during the week.  On Monday energy prices fell despite the outlook for extreme weather. The risk of this was offset by higher gas imports to the UK from the Continent. 

Prices gained on Tuesday with demand elevating due to the cold snap and expected to continue to do so for balance of week. In addition, an unplanned outage at the Norwegian gas shelf restricted supplies to the UK.  Limiting some of the upside on contracts further along the price curve was an easing oil market following an announcement and order from Russia that there would be five-hour daily ceasefires in eastern Ghouta: this news alleviated some of the geopolitical risk in that region.  On Wednesday, contracts for April-18 and beyond fell despite a bullish prompt market and a gas deficit warning being issued by National Grid. 

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