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NATGAS
Gas is holding a considerable share of the total output from coal plus gas generation this year amid low market prices and despite a weaker performance in the last week according to Bloomberg.
- The thermal gap has averaged the highest on record for the fuel at 76% between 1-20 March. The share is 6% above the previous maximum for the month of March.
- The highest daily percent share of total gas plus coal generation of 77% was seen on March 15.
- An increase in solar and hydro clean power generation in the last week has however contributed to a 8.02GW w/w decline in gas generation and 1.52GW decline in coal generation.
- US front month Henry Hub prices have found some support since mid February after falling more than 50% from a high of in late October 3.63$/mmbtu driven by a mild winter and an increasing storage surplus.
Source: Bloomberg
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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