Energy Market Update – 30 January 2015
30 January 2015
A dip in temperatures saw the prompt open above yesterday’s closing settlement, but increased flows from Norway helped to bring the contract back down to slightly below the previous close. Both the near and far curves have fallen below last night’s settlement, as Brent Crude suffers further intraday losses. Day Ahead is currently offered at 47.70 pence / therm, with Summer ’15 at 42.85p / therm, Winter ’15 is offered at 48.93p / therm, and Summer ’16 is offered at 50.15p / therm.
Day Ahead opened above its close point, but despite some softening in trading this morning it remains in positive territory, with low wind-output and colder temperatures forecast next week the likely causes. Weakness on the gas curve has filtered through to the Power markets, with losses in carbon markets providing further bearish stimulus. Day Ahead is currently offered at £47.75 / MWh, with Summer ’15 offered at £41.95 / MWh, Winter ’15 offered at £45.85 / MWh, and Summer ’16 offered at £42.08 / MWh.
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