Weekly Price Update Report - Week 12, 2019
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Energy Market ReportsWeekly Price Update Report - Week 12, 2019

Weekly Price Update Report - Week 12, 2019

Chris Hurcombe

by Chris Hurcombe 18 March 2019

Report Summary:

Downside further boosted

week-on-week-changes

NBP Natural Gas & GB Power Market Movement

Consumption falling nearly 16%, the return of supply from North Sea facilities, a strong LNG send  out and further falls in the Carbon and Coal markets all contributed to strong prices losses during the week. Downside was further boosted by the expected arrivals of LNG to the UK.  Supply from wind power was well above the seasonal norm resulting in less demand for gas from power (CCGT) generators. The Oil price gained +2.16% but bullishness from this commodity once again failed to stem the falling trajectory seen in UK wholesale pricing.  By close of play on Friday (15th March) the April 2019 annual contracts for electricity and gas closed lower -6.51% and lower -9.48% respectively, in line with Catalyst's forecasts and expectations.

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