Energy Insight 2018 - Week 25

Your regular snapshot of the wholesale energy markets.

Last week began with the removal of mainland European export demand as the IUK Interconnector pipeline went off line for yearly maintenance. This meant that shippers were unable to purchase Day-ahead gas for immediate export to Belgium via the pipeline meaning the British Day-ahead contract was pushed over 2.0p/th below its Belgian Zeebrugge counterpart.

IUK maintenance removes a key source of demand from the NBP gas market, leaving only Norwegian supply and domestic storage sites as supply sources for those in Europe. As we progressed through the week, a bearish fuels complex was the main driver for prices in the utilities markets. A late sell-off of coal and Brent crude oil on Wednesday meant that prices across both the gas and power markets fell lower than the previous day.

On Friday, another late Brent crude oil sell-off coupled with weak demand softened prices, meaning that prices eventually finished lower w-o-w…



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