Gas is over supplied today as warmer seasonal temperatures help to suppress demand, according to npower experts.
Tim Carter Client Portfolio Manager on npower’s optimisation desk said in today’s Daily Market Report: “Temperatures are helping to depress demand by around 10 million cubic metres from seasonal normal levels.
“Feb 15 is now trading 0.85 per therm lower at £47.60 while the front season is down at £0.35 per therm at £43.50.”
The analyst added: “Power prices have followed the gas shift down with Feb 15 trading at £41.20 pence per megawatt hour (MWh), that’s down 30 pence per MWh. While summer 15 is trading at 45 pence per MWh lower at £42.90.”