Wholesale prices continue downward trajectory amid strong LNG delivery schedule

Gas prices continued their downwards trajectory on Friday amid a plentiful LNG schedule.

Contracts across the curve lost value, with the sharpest declines concentrated at the front end. The Summer-26 contract registered some of the largest moves of the session, closing at more than 2p/th (0.68p/kWh) below its previous settlement.

Elevated LNG send-out perhaps provided pressure, particularly on near-dated contracts with the latest shipping data signals that up to seven laden vessels are expected to berth at UK terminals by December 5th.

On the power side, baseload prices mirrored movements in their gas counterparts, though the downside were more muted.

The Summer-26 contract shed just over 1.25£/MWh from its previous settlement.

Stronger solar generation may have provided some relief at the front-end with data from National Grid confirming that output rose by circa 19% day-on-day, easing demand for gas for power which fell nearly 14%, when compared to the same period.

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Price commentary courtesy of Crown Gas and Power