Q1 traded up £5 mainly on gas concerns with Theddlethorpe having problems pushing gas. The market is still jittery and as Powerisk has commented before, demand led fundamentals appear to have more effect than supply led fundamentals. It is expected that Theddlethorpe and Teeside (also rumoured to be unwell) will return soon, and so these temporary blips pull the whole curve North. Power prices which are strongly correlated are coming up with them, clean spark prices do look cheap for January. Many of the natural shorts have become more hedged as risk limits have kicked in with the recent price rises, but there are still some who will react to price rises, and so a £5 move in Q1 yesterday can create a demand push for today.