Volatile day of trading increases prices

A volatile trading day concluded with gas prices rising at the NBP on Tuesday for the first time in six sessions.

Morning peace talks on the Ukraine-Russia conflict initially drove prices down during morning trade, however contracts rallied by the close.

Many contracts across the curve observed gains of around 3p/therm (0.1p/kWh) when compared to their previous settlements.

Current EU regulations require member states to reach 90% storage capacity by November to reduce reliance on Russian nominations during winter months. The EU Commission has been considering “flexible” targets to alleviate pricing pressures across European trading hubs according to a drafted document.

This morning gas prices have eased a little, with the Summer-25 front-season contract last offered around 1p/therm (0.03p/kWh) lower than its previous closing price.

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 Power report courtesy of Crown Gas and Power

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