12th March 2013 | Posted by: Sarah Cooper | Market Analysis
Yesterday’s demand was greater than expected - which helped to push European spot and near curve prices a little higher. Colder weather should continue to support gas demand across Europe today, and higher storage withdrawals are likely to be needed to balance the gas system. All of the above should lend further support to April 2013 prices. With temperatures still falling - and expected to reach their lowest level on Thursday - electricity consumption is likely to increase over the next few days. At the same time, German wind power generation is set to fall close to zero. As a result of these factors, power’s spot prices could well rise.