Market stable amid consistent LNG send-out
NBP gas priceswere relatively stable at the NBP on Friday amid consistent LNG send-out and a sharp drop in renewable generation.
A wave of LNG cargoes perhaps weighed on prompt contracts; the latest shipping data shows that ten vessels have already berthed on British shores since the start of the year, with another nine expected before month end.
However, the market may have found some support from a sharp decline in wind output. National Grid data shows that wind-generation fell by more than 40% day-on-day, prompting a greater reliance on gas-fired power.
On the power side, baseload contracts mirrored the muted movement seen on the gas market with most trading within a narrow £0.5/MWh range.
Storm Goretti’s unsettled weather continued to contribute to a sharp curtailment in solar generation, with National Grid data indicating a day-on-day output drop of more than 80%.
This morning, energy prices have opened in bullish territory with the power Summer-26 contract trading circa 1 £/MWh above its previous settlement.
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Price commentary courtesy of Crown Gas and Power 