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07/01/2021
Gas
Contracts across the curve weakened on Wednesday, pressured by the forecasted for the return of above average temperatures in the coming weeks which is expected to ease demand, with the improving weather outlook feeding into longer dated contracts. This morning NBP gas contracts have opened higher, as demand remains strong and trading within the wider commodities firms.
Power
UK power contracts traded lower on Wednesday tracking the downward shift within the NBP gas market, as temperatures and wind generation are expected to increase. This morning UK power contracts have been dragged higher by the gains within the NBP gas market, as the day ahead weather fundamentals bolster demand, and trading within the wider commodities strengthens.