Last Thursday there were some very slight increases & decreases which made little difference to the overall picture.  Prices are continuing on their long term downward trajectory, continuing not to rise.

Our gas storage in Briotain ahead of the winter has risen to 97% of forecast winter demand, partly aided by the unseasonally warm weather.

On the lower table renewables generation was >40% last week, although the overall cost of energy produced rose to £88.81/MWh 

Gas: NBP contracts were led by activity with Norwegian pipelines yesterday, flows via Easington were down 17mcm/day yesterday and outages have been extended to at least 29th September. British storage has reached 97% capacity, which should slow injections over coming weeks.

Power: Dwindling wind forecasts as we move into the weekend supported day ahead and weekend contracts throughout yesterday’s session. Whilst the far curve was pressured by gains seen in Carbon markets. Temperatures over the next week are forecast above seasonal, likely limiting power demand.

Crude: Prices eased off yesterday as the market was seen to profit take. US inventory levels have been seen to dip by 13% against their peak at the beginning of the year, further tightening supply.

Carbon (EU ETS): The ICE Dec-23 closed at €82.71/t yesterday. The market opened his morning at €82.87/t and is trading at €82.66/t at the time of writing.

Carbon (UKAs): The ICE Dec-23 closed at £36.78/t last night. The contract is currently trading at £37.06/t at the time of writing.