Prices remain stable amid unplanned Norwegian outages
Gas prices remained relatively stable at the NBP on Thursday, with most contracts trading within a narrow range of previous settlements.
The most notable movements occurred at the front-end, with the Winter-25 contract gaining around 1p/th (0.034p/kWh) compared to its prior close.
Support for near-dated contracts was perhaps bolstered by a series of unplanned Norwegian outages. According to Gassco data, both the Troll and Kollsnes gas facilities experienced disruptions due to processing and compressor issues, collectively curtailing available volumes by 99.7 mcm/d.
On the power side, baseload prices mirrored the modest gains seen in the gas market, with most contracts posting small day-on-day increases.
The largest movement was observed on near-dated contracts, with Winter-25 rising by approximately £1.25/MWh compared to its previous settlement.
A decline in wind generation may have contributed to the upwards movement seen at the front-end. Data from National Grid indicates that wind-for-power output fell by around 10% when compared to the prior day, prompting a roughly 20% increase in CCGT (Combined Cycle Gas Turbine) offtake to meet demand.
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Price commentary courtesy of Crown Gas and Power 