Market News
Market Overview - Trading Day Monday 6th September 2010
SPOT Market
Gas and electricity spot contracts eased back yesterday as improved gas supplies and liquidity on the prompt contracts help erase Friday’s gains. Meanwhile, continued optimism over UK supply in light of the anticipated reduction in exports as a result of the upcoming interconnector outage, helps aid losses as fundamentals remain little changed.
FORWARD Market
Further along the curve, seasonal contracts also slipped back under the pressure of near curve reductions. Gas contracts post the heaviest losses, whilst a lack of trade on power contracts on the seasons limit losses somewhat. Earlier reductions in other related commodities help soften gains seen at the end of the previous week.
TODAY’S UPDATE - Tuesday 7th September 2010 - Gas and electricity prices along the curve open weaker this morning, extending yesterday’s reductions largely driven by healthy gas flows aiding supply confidence.
