Energy Market Update – 20 March 2015

20 March 2015

Gas

Strong Norwegian gas imports into the UK helped softened prompt prices at the opening of this morning’s trading, but predictions of colder weather next week saw an uptick within the day. Near curve contracts have fallen in reaction to the arrival of LNG shipments, and negative movement on Brent Crude is providing bearish momentum to the far curve.

Day Ahead is currently offered at 46.70p / therm (up 0.50p / therm on previous settlement assement). Summer ’15 is offered at 43.70p / therm (down 0.10p / therm), and Winter ’15 is offered at 49.90p / therm (down 0.10p / therm).

Power

Prompt contracts have pushed up today on the back of colder weather forecasts, whilst near curve contracts have mirrored weakness in their gas counterparts, although a weakening pound against the Euro has offset some of the losses. Further out on the curve, softening coal and oil prices have allowed power prices to soften.

Day Ahead is currently offered at £41.40 / MWh (up £1.50 / MWh on previous settlement assessment) . Summer ’15 is offered at £41.75 / MWh (down £0.32 / MWh), and Winter ’15 is offered at £45.98 / MWh (down £0.08 / MWh).

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