A mixed morning today of market drivers, with prices overall pushing up. We are seeing wind generation supply 37% of the grid, up significantly from last week, easing CCGT pressure. But despite this, unplanned outages at both Barrow North Terminal and Kollsnes in Norway are pushing markets higher.
Temperatures are much milder this week, with February itself looking milder than January for the first half of the month. This may ultimately keep markets less volatile and calm.
Brent Crude is bouncing around the mid $80’s range with mixed signals from the east and west. China will no doubt see an increase in consumption, whereas consumption could be set to decline in the U.S with interest rates again expected to increase to combat high inflation levels.
The Freeport LNG terminal remains the main focus for the markets this week. The terminal started to receive small amounts of pipeline gas late last week.
How the market has opened each day:
DAY AHEAD PRICES | Gas (pence per therm) | Electric (£ per MWh) |
23/01/2023 | 174.00 | 180.95 |
24/01/2023 | 149.00 | 156.00 |
25/01/2023 | 146.00 | 146.00 |
26/01/2023 | 144.00 | 156.00 |
27/01/2023 | 141.00 | 114.00 |
30/01/2023 | 144.50 | 128.00 |
7 day averages
Electric (£ per MWh) 146.83
Gas (pence per therm) 149.75
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