Weekly Price Update Report - Week 12, 2018
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Energy Market ReportsWeekly Price Update Report - Week 12, 2018

Weekly Price Update Report - Week 12, 2018

Angie Palmer

by Angie Palmer 17 March 2018

Report Summary:

Cooler weather still a driver


NBP Natural Gas & GB Power Market Movement

Cooler weather, low storage levels and slow-to-arrive LNG cargoes were the main bullish factors for price rises on Monday. Aggregated storage levels in northwest Europe (Belgium, France, Germany and the Netherlands) were also well below levels expected for the time of year.  Prices fell on Tuesday on mild weather and strong wind power production, correcting some of the gains seen on the previous working day.  Peak wind power generation was also forecasted to rise for D+1.  The UK also received an LNG cargo from Russia and another cargo is expected to arrive later in the month. 

Markets fell Wednesday with a milder weather forecast being the clearest bearish signal. There was an outage at Dimlington (UK gas shelf) but medium range gas storage injected heavily during the week reducing the impact of outages when they arise.  Markets roses on Thursday on expectations of much cooler weather over the weekend and the former part of week commencing 19th March.  By Friday, the April-18 annual electricity and gas contracts settling the week lower overall -0.31% and -0.61% respectively. 

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