Market Insight
Tony Jordan
21 April 2023

Market Insights 21/04/2023

DAILY MARKET REPORT – 21/04/2023

A flat day yesterday as no significant news of late continues to keep the market in a relatively stable holding patten.

The Danish Energy Agency yesterday lifted the ban around the location of the Nord Stream AG blasts, which had until now prevented vessels getting near to the site due to safety concerns. Sweden and Denmark are still to release their findings on the attack.

Yesterday saw the TTF May contract settle at €40.57 (from €40.30) and the NBP May contract at 95.60p (from 96.11p).

Njord and Karsto remain on unplanned outage this morning and we see a flow level at 302mcm from Norway (306). Russian nominations showing Velke Kapusany at 36.9mcm (36.9) and Sudzha at 42.4mcm (42.4). Nord Stream remains unavailable.  Gas storage showing at 56.81% full as per AGSI+. LNG vessels due to arrive in UK next couple of weeks is 13.

This morning we see the May TTF contract at €41, NO CHANGE to the previous settlement. 

A quick check on some key contracts (rounded to nearest whole):
Curve TTF May €41, Winter €55 (vs €41 and €55)
Curve NBP May 96p, Winter 143p (vs 96p and 144p)
UK Gas NBP spot 97p (from 92p).
UK Power DA £101 (from 103).

UK power prices show the UK May Baseload contract at £100 (£103) and Winter at £154 (£154).

In other areas of the market Brent Oil is at $81 ($83) and EUAs are at €92 (€94). Henry Hub is at $2.25 ($2.22) and JKM is at $12.24 ($12.25) with TTF Equiv of $13.05 ($12.94  ).

Numbers in brackets show the previous reports value.