Energy Market Update – 23 January 2015
23 January 2015
Colder temperatures have increased demand throughout the week, but a milder forecast over the coming days has provided downward pressure to the prompt this morning. Near curve contracts opened the day above their previous settlements, but have retread below their previous close during the day’s trading. Further out, contracts have remained relatively flat. Day-Ahead is currently offered at 44.60p / therm, with Summer ’15 offered at 41.95p / therm and Winter ’15 offered at 48.05p / therm.
Strong wind output has contributed to a healthy supply system, with an expectation that less coal-fired generation will be required over the next week to meet peak demands. Day-Ahead opened below its previous closing settlement and dropped further during this morning’s trading. As with the gas market, near-curve contracts opened up on the previous day, but traded down to show a loss against yesterday’s settlement. Day Ahead is currently offered at £37.90 / MWh, with Summer ’15 offered at £41.65 / MWh and Winter ’15 offered at £45.75 / MWh.
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