Prices were once again stable with the Brent contract finishing flat
09 April 2021
On the prompt prices firmedThe supply/demand balance on the UK gas system turned positive on Thursday and the system ran with a surplus of 19 MCM. Forecast demand for the day fell to 248MCM as temperature rose and an increase in wind generation displaced a significant tranche of gas-fired power generation. The supply side was also boosted by the imminent arrival of 3 LNG tankers which were due to dock in the UK in coming days. On the markets the improving supply position put some pressure on prices with future contracts going lower. On the prompt prices firmed with the spot and day ahead adding 0.75p and 1.50p respectively.
The GB power futures market eased yesterday as fuel input costs declined. With the NBP gas and EUA carbon market moving lower pressure came on the front of the baseload power curve. Prices for front month baseload fell by £0.50 and this contract closed at £56.90/MWh. Across the remainder of the curve contracts moved lower by an average of £0.44/MWh. The day ahead baseload contract firmed on a drop in outlook for wind generation. Wind out turned at 9.8GW yesterday but is expected to fall back to 5GW today. The day ahead contract added £2.00 to close at £64.30/MWh.
The GB power futures market eased yesterday as fuel input costs declined