Daily Energy Market Report 12th March 2018
Colder weather has been forecast for Monday 19th March onwards with temperatures set to drop 6 degrees below seasonal normal.
The temperatures in the UK are expected to sit at 0°C for a number of days and after the Beast from the East caused markets to spike, there has been an early lift in the market today.
The UK system opened well balanced this morning with the system at 5.1 long despite significant increases in price.
To highlight the movement, April – 18 is up ~5p/therm from Friday and most seasonal contracts following the prompt, climbing 1 – 1.5p/therm since Friday.
Prices climbed on Friday buoyed by low European storage levels and fears of unplanned outages.
An increased frequency of outages due to the excessive cold weather last week has led to concerns about the infrastructure in the region, especially with an upcoming cold spell.