Wednesday 30 July 2014

September gas prices open lower

Gas prices for September opened lower this morning according to a daily market report from npower.

Tim Carter, Client Portfolio Manager at the supplier’s Optimisation Desk said: “The gas market has opened a touch lower this morning with September 14 contracts now trading 0.42 pence per therm lower than the close yesterday at 42.70 pence.”

Power contracts followed their gas counterparts lower, he said.

Looking further ahead, winter 2014 contracts are now 25 pence lower at 48.75p.

The power system looks “relatively comfortable” today as wind has picked up to more than 2.5GW.

Gas fired CCGT plants and coal have both dropped off a touch since yesterday, said the market analyst.