4th March 2013 | Posted by: Sarah Cooper | Market Analysis
Despite lower gas demand on Friday, the UK system still relied on strong storage withdrawals to balance out - which led to higher spot prices and lower prices on the near curve. Today’s higher temperatures should help to lower UK NTS demand, but a considerable fall in Norwegian flows to the St Fergus Total terminal left the system very short this morning. This shortfall is pushing April 2013 price higher - but it’s unlikely we’ll see this pass the resistance level at 70.01ppt today. We’re expecting power’s spot prices to follow a downward trend over the coming days on the back of warmer weather.