Daily Market Analysis: 13.12.22
A settled day price wise, as the country endures another bitterly cold evening ahead, with demand exceptionally high. While the cold weather front persists, wind generation is projected to start picking up into the week, easing supply tightness, and reducing the need for gas to power conversion.
Power front month prices have been selling off at a quicker rate than gas lately. Jan-23 has dropped from ￡400 to ￡362MWh mid-price. S-23 is teasing going below ￡300 but lacks liquidity.
Norwegian flows are back up to full capacity following a period of outages last week, which unexpectedly reduced available capacity to Europe.
Temperatures will be as low as -8 across most the UK in the night till Friday.
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Energy Market report updated daily with the wholesale energy price analysis. We also produce monthly reports on gas and electricity prices.