The string of bank holidays this April is the reason for a quiet spell in the UK power market, according to npower’s latest Market Report.
Prices have already been trading down with in the past couple of weeks according to Magali Hodgson, npower Optimisation Desk Manager.
On top of this, the shorter working weeks have meant that traders are avoiding taking risks. She said: “The UK market was quiet last week as everyone was getting ready for the bank holiday weekend. With a very short week before the next long weekend, traders were reluctant to take on big positions.”
Broadly, power prices were trading down with ‘softening’ gas prices making it a fuel of choice for energy generation and oil prices consistently remaining above $120 per barrel, added Ms Hodgson.
The26th AprilMarket Report with Magali Hodgson