Prices resume downward trajectory helped by strong renewable electricity generation

Prices resumed their downward trajectory, with contracts across the curve erasing the modest gains recorded in the previous session.

The sharpest declines were concentrated at the front-end, where the Summer-26 contract fell by approximately 2.25p/th (0.077p/kWh) when compared to its prior settlement.

The resolution of Norwegian outages likely eased immediate supply concerns stemming from lingering scheduled maintenance.

Data from Gassco confirmed that outages at the Troll and Visund facilities were resolved yesterday, boosting available volumes by 22mcm/d.

On the power front, baseload prices tracked the movements of their gas counterparts, also reversing the prior session’s gains, although downside was more restrained.

The Winter-26 contract saw some of the largest declines, shedding 1.25 £/MWh when compared to its previous closing price.

Stronger wind-generation perhaps helped to reduce prices on near-term contracts. National Grid data indicates wind-output increase by nearly 16% day-on-day, curbing reliance on CCGT, which fell by more than 6% over the same period.

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Price commentary courtesy of Crown Gas and Power