Energy Market Update – 20 April 2015

20 April 2015


Warm weather has seen gas demand fall below seasonal norms, but despite the system remains in slight undersupply due to large export volumes leaving the UK into Belgium. Consequently, the Day-Ahead contract has firmed on this mornings’ trading. However, two LNG tankers are due to arrive at British ports at the end of the week, relieving bullish sentiment on the near curve. Contracts on the far curve opened the day in negative territory on the back of a string Pound against the Euro, but gains in Brent Crude have limited the bearish sentiment.,

Day Ahead is currently offered at 45.50p / therm, a gain of 0.25p / therm from its previous settlement, with Winter ’15 offered at 49.80p / therm (0.10p / therm below previous settlement), and Summer ’16 is offered at 44.80p / therm (0.10p / therm below previous settlement).


Wind generation is predicted to increase during the first part of this week, providing bearish pressure to prompt contracts, exacerbated as warm weather curtails demand. Near curve contracts have taken direction from their gas counterparts, with the far curve also finding bearish pressure from a falling coal market.

Day Ahead is currently offered at £43.45 / MWh, a fall of £0.70 / MWh from its previous settlement, with Q3 2015 offered at £42.05 / MWh (a fall of £0.10 / MWh), Winter ’15 offered at £46.35 / MWh (a fall of £0.07 / MWh), and Summer ’16 offered at £43.38 / MWh (a gain of £0.05 / MWh from previous settlement).

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