Market bounces a little

16 February 2007

Market sees a little support as a few buyers return to test to see if there is an upside level. Flushing out some stop losses might be the next move.

Inevitably it had to happen but sneaking from behind corners came a number of buyers. Rumours of a particularly brutal cold snap next week sent some buyers into the market to take a punt. It also saw some support on Winter 07 which still has a healthy spark spread.

Could this be the start of a long rally probably unlikely, but there is evidence to suggest that the market is going to have a go at testing some highs as well as the lows and this is good for traders who will look to "job" in between.

Powergen announced yesterday a new set of tariffs to compete and better British Gas but these are only for new customers and so the existing customers are having to phone up and ask to be switched.

The tariff process is very complex as players now quote discounts of their standard tariff and no one really knows what their tariff is in the first place.


Electricity  Supply  Weather 

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