Power prices for December jumped 0.75p per therm today after Jack Frost showed his face in parts of the UK overnight, according to the daily market report from npower.
The front-month contract opened 48.50 pence per therm this morning, compared with 47.65p at close of play of Friday.
Gemma Bruce, Client Portfolio Manager at npower’s Optimisation Desk said: “We’ve seen the front-month contract trading 0.75p higher than Friday’s close.”
Since this morning the baseload power contracts for December have dropped a little, more recently trading at 48.40p, the analyst told ELN over the phone.
Meanwhile gas prices edged up a fraction, she added, “with the equivalent gas contract trading around a penny per therm higher.”
The gas system itself opened very undersupplied this morning with the Linepack currently forecast to close 20mcm short, on the back of greater household demand linked to cooler weather.