Weekly Price Update Report - Week 14, 2018
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Energy Market ReportsWeekly Price Update Report - Week 14, 2018

Weekly Price Update Report - Week 14, 2018

Ian Mckenna

by Ian Mckenna 03 April 2018

Report Summary:

Oversupply lowers the curve


NBP Natural Gas & GB Power Market Movement

Gas markets fell on Monday as weather forecasts turned warmer.  Oversupply and a cut in expected gas consumption forecasts also led to losses.  However, the bearishness from Monday was short-lived with weather forecasts once again turning colder, resulting in price gains on Tuesday.  Prices rises continued Wednesday, with the risk of higher demand outweighing the benefit of increased supply through the Interconnector and the importing BBL gas pipeline (which connects the UK gas infrastructure to The Netherlands). 

Both Coal and Oil gained alongside keeping contracts further ahead propped up also.  Prices rose once again on Thursday, the last working day of the week, as the renewed outlook for temperatures over the Easter period were below seasonal normal levels.  In summary: Oil closed the week slightly lower with Middle East tensions easing and rising US production capping price gains in this commodity.  The Coal price gained week-on-week with one main factor being lower inventories.  By Friday, curve markets closed higher overall, week-on-week, +1.66% & +1.55% for the April-18 annual electricity & gas products. The summer-18 electricity and gas product have now expired.  If your energy contract expired on 1st April 18, please check that a new contract has been arranged to avoid expensive out of contract or default rates.

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