Wholesale prices up for third consecutive day

Friday’s session closed the week on a strong note, extending gains on the key Summer 26 and Winter 26 contracts for a third consecutive day.

Intraday volatility remained elevated as the market monitored subtle shifts in the near-term demand outlook.

Our latest 14-day model shows demand rising above average from 13-16th February, then holding close to seasonal norms until at least 22nd February.

Meanwhile, steady supply fundamentals have helped cap recent gains. Robust LNG imports and consistent Norwegian pipeline flows continue to act as a price ceiling, though the latter has dipped slightly due to an outage at the Nyhamna processing facility, scheduled to conclude on 18th February (Gassco data).

Mixed moves were posted across the baseload power curve, with the near-curve (front-month and front-seasons) following gas counterparts higher.

However, this strength didn’t filter through to later-dated season contracts, which remained steady, some of which posting small losses.

Wind power generation stayed strong into the weekly close, rounding off another week of solid renewable output and helping maintain a more balanced system despite fluctuations in the underlying fuel markets.

If you want to see more information on the wholesale market trends subscribe to our weekly report here.

Price commentary courtesy of Crown Gas and Power