Early indications from the continent pointed toward a stronger start to the week for UK power prices, with again a stronger commodity complex looking like the driving force, as carbon began to rally. Weather runs also pointed toward some cold weather risk on the continent, lifting prices on the far curve, with the Summer 21 contract as high as £44/MWh on Monday. Thursday was ear marked as a potential Triad risk with peak demand forecast to reach 42.6GW between 17:00 and 17:30 this evening providing some firmer within day prices, with the N2EX day ahead out turning as high as £106.19/MWh. The uptick in demand was driven by falling temperatures and slightly less wind generation.

The Dec 20 NBP contract started the week strong, with a Monday morning rally to 41.50p/th up from the opening price of 40.79p/th. Over the course of the week however, consistent losses were seen day on day breaking below recent short term support level of 36.50 p/th. Above seasonal normal temperatures have driven this price sentiment. The UK gas system started the week comfortable with the linepack opening long Monday morning at 14.4 mcm. The theme of the week however was a tightening system with the linepack reaching -24.4mcm on Thursday evening, before flexibility again returned on Friday. With National Grid reporting an oversupplied system of 28mcm long.

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