8th February 2013 | Posted by: Sarah Cooper | Market Analysis
The UK gas system was tightened yesterday, with higher withdrawals needed as on-going lower domestic production and higher demand took control. This move supported NBP spot and near curve price. Although UK NTS demand is a little lower this morning (compared to yesterday), the system is expected to fall short due to another drop in domestic production. We believe this could push March 2013 prices higher again today. Turning to power, we’re expecting a supportive spot fundamental picture for the next week - with a drop in temperatures, a drop in French nuclear availability and limited wind power all contributing to this.