Whilst the gas system has started the day long, we could see tightness in the electricity system today, with the drop in wind and temps forcing more gas onto the grid. #energymarkets
This morning markets have opened slightly weaker in what can only be described as a lackluster start to the day. All eyes will be on what Rishi Sunak has to say in the budget this afternoon. #budgetday
Last week saw gas and power contracts drift mostly sideways in a week that saw Mar 21 contracts expire and Apr 21 take centre stage. https://www.brookgreensupply.com/insight/weekly-energy-market-update-01-03-2021
Planned and unplanned outages at Norwegian gas fields meant capacity was reduced, but with weather forecasts expected to be at seasonal normal or above, it doesn't seem to pose too much of a problem in the market.
Gas and electricity were both weaker yesterday with much of the action focused on the front couple of months. This morning the market has opened stronger, helped by a strong opening in carbon pricing.
After initially trading higher yesterday, the market shrugged off concerns of colder weather forecasts in Japan and potential feed gas issues into US LNG plants.
Gas and markets rallied yesterday as extreme cold weather in Texas curtailed some of the feedstock into LNG liquefaction plants prompting at least one LNG operator to call Force Majeure on cargoes.
After initially trading higher yesterday, prices fell later in the day, reflecting below seasonal-normal demand in the UK and the expectation of higher wind generation for the next couple of weeks.
Last week saw gas markets soften particularly at the front of the curve as weather models found some common understanding that cold weather was due to come to a halt at the end of the week. https://www.brookgreensupply.com/insight/weekly-energy-market-update-15-02-2021
See this weeks #energy market update - "Last week saw #carbon take the limelight as the #commodity rose a whopping €5.25/tonne" https://www.brookgreensupply.com/insight/weekly-energy-market-update-08-02-2021
As forecasts increased their certainty around colder weather next week, prices traded higher over the course of the day yesterday - with both gas and electricity showing gains down the curve. #energy
The market sold off quite aggressively in early trading yesterday, but by mid-morning rallying, carbon prices supported gas and electricity. #energytwitter