UK Gas prices have increased this morning, on the back of a short UK system and limited market liquidity.
Temperatures are beginning to turn warmer over the next couple of days, however they are expected to turn cooler on Sunday.
The NBP system has opened short this morning (-6mcm), as UKCS flows remain weak due to the continued outage at SEGAL and lower St Fergus Mobil flows.
Low liquidity in the market – potentially caused by holidays, no real drivers and buyers waiting to see what happens, and static Oil prices have added support to the curve.
UK Power has increased this morning, following UK Gas and reacting to weak wind and rising Coal prices.
As UK Gas prices have risen this morning, on the back of low liquidity and a short system, this has added support to the Power curve as it follows the trend.
Wind generation levels are currently very weak, but as cooler conditions return next week, this is expected to increase.
Oil has remained relatively stable today, but over the span of the Oil rises, this has in turn pushed Coal prices up as well, offering support to UK Power across the curve.
Dutch and French Gas prices have increased this morning, similarly to UK on the back of a short system and low liquidity.
There have been no real changes to continental temperatures this morning, however downward revisions are expected for LDZ demand. Possibly limiting potential rises.
Norwegian and Russian flows are both stable to the Continent, but with SEGAL amongst other outages going on, strong industrial demand and increased storage injections, this does add pressure to the systems.
Oil prices have remained stable this morning, hovering around the 49 mark. Making slight losses from this week’s levels as we see a rise in OPEC supplies, despite their pledges to cut production.
Dutch and German Power prices have remained relatively stable this morning, balanced amongst yesterday’s levels.
Wind levels are very weak at the minute, but as it becomes cooler next week, they are expected to rise and pick up stronger.
Solar levels are relatively strong this week, however opposite to wind levels, they are expected to fall as the cooler weather comes in, expected to remain relatively stable after that.
Coal prices have increased this morning, as they continue to react to the past couple of day’s strong rises in the Oil market.