It is a sign of a comfortable market when recent moves are sustained. With Sumer 08 looking unlikely to break £45 and with Winter only a smidge belwo £50 could the UK energy price now remain at these levels. Everything in the short term shows that demand and supply are balancing but only just. Outages and price worries are showing that NGC are struggling in a slightly colder than normal October and with a disproportionate number of outages for this time of year. Gas inflexibility and coal and oil price rises are feeding fuel onto the bulls fire.

If you speak to traders though they do see a return to some low numbers they see fundamental supply outstripping demand, they know that some thf electricity production will have to be used sparingly as a result of the LPCD but they also know that if profits are high then power players will take them, for a short time before competition kicks in.