Market activity is light today, partly due to the lagging affect of the bank holiday, but also because not much in the way of significant news in the energy world.
The UK have announced they will be supporting FSRU projects to expand the UK’s LNG import capabilities, which is a long-term factor. Over in France, EDF have extended the outages of 10 reactors, which was widely expected. It takes 11.6GW of supply offline.
In Europe, temperatures are now rising as summer season truly begins, and heating requirements are expected to drop off. Finally, some bearish news from China, that confirmation for Q1 2023, they re-exported excess LNG back into the market, accounting for 22% of total global output.
On the NBP, Front month May-23 tests the 100p point. So, to is the D.A market. Power D.A has lowered to £90.75MWh, with not much liquidity further out.
How the market has opened each day:
DAY AHEAD PRICES | Gas (pence per therm) | Electric (£ per MWh) |
04/04/2023 | 115.00 | 125.50 |
05/04/2023 | 105.45 | 113.50 |
06/04/2023 | 101.75 | 99.00 |
11/04/2023 | 100.50 | 91.00 |
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7 day averages
Gas (pence per therm) 105.68
Electric (£ per MWh) 107.25
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