Gas and power market flat – Y Report

It’s been another flat week in the market, according to Inenco’s Y report. It follows the OPEC conference on Friday. Stuart Lea, Head of Energy Training at Inenco said: “There […]

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It’s been another flat week in the market, according to Inenco’s Y report.

It follows the OPEC conference on Friday.

Stuart Lea, Head of Energy Training at Inenco said: “There was an expectation output levels would remain the same – it did and it had a neutral impact on price.

“Even the Greek default on Friday failed to have any material impact on prices.”

Despite the Interconnector going offline tomorrow for maintenance there’s been a reduction in wind and an increase in gas storage injections.

 

Mr Lea also said there’s a lack of LNG and exchange rates have started to change.

He added: “We would expect prices to increase slightly through the week but don’t expect anything major to happen.”

It’s expected prices will fall in Q3 this year, however considering “prices still remain around contract lows – there is still clearly more upside risk than downside potential for prices to fall”.

It still remains a good time to place fixed-price contracts or buy on flex contracts, he said.