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The entire grid warmed up during the month of February 2024 and with that came the reality that there as too much production in play and that a price signal was needed to get entities to start thinking about adjustments to their portfolio.
Figure 1 | Shadow-less in February 2024
It did not take long for the basis markets to react to the lack of heating demand as several trading hubs moved down to a level that would start to get production to back off. The one component that was being utilized up to this point was that of power burns but with the increasing renewable fleet and downward trending electricity demand, this was neutralized quickly. One can purchase the content of this report by clicking the button below or subscribe to the Platinum/Platinum Plus eCommerce package offered on a monthly or annual basis to which you would get access to future and past publications.