Thursday, 6 January 2011

Spot unchanged despite higher UK gas prices

UK spot power prices were unchanged Thursday despite higher UK
business gas prices and as demand
was forecast to drop Friday, sources said.

UK OTC power for next-day delivery was assessed at GBP49.60/MWh in base and
GBP55.50/MWh in peak, respectively up just 10 pence and unchanged from

On the N2EX wholesale power exchange, the day-ahead power auction cleared 50
pence higher than Wednesday at GBP49.50/MWh.

"The price has not moved very much...there's a bank holiday on the Continent
but it's not smashed the [UK] price down," a trader at a large UK utility

"The market is so over-supplied," a trader at a second utility said.
"There's very little to be's just about closing positions." UK gas prices increased Thursday as colder temperatures were forecast to set
in Friday.

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