15th March 2013 | Posted by: Gareth Amos | Market Analysis
We saw weaker demand for gas yesterday. This, combined with a comfortable pipeline supply, helped to push European spot and near curve gas prices down. It is expected that European gas demand should drop further today. UK’s NTS demand is also likely to be lower than yesterday’s level. What’s more, temperatures are set to climb next week; which should lead to further drops in UK demand. Milder temperatures helped to ease pressure on power demand, leading to lower overall spot power prices. Mixed sentiment was seen on the far curve, as prices failed to take clear direction.