Market Insights 13/06/2025

DAILY MARKET REPORT – 13/06/2025

A further small upward movement seen in yesterdays session as the French nuclear issues retained concerns in the market.

Wind generation is expected to fall, after a strong day on Thursday, and remain relatively low for the remainder of the month – pushing a bit more on gas generation.

Norwegian flows are now expected to dip a bit further in the planned outage, not helped by unplanned outages seen in the last 24 hours also – which will add to any underlying concerns to the immediate supply balance.

Yesterday saw the TTF Front Month contract settle at €36.18 (from €35.92) and the NBP Front Month contract at 84.89p (from 84.17p).

Kollsnes on unplanned outage this morning and we see a Norwegian flow nomination level at 221mcm (271). EU gas storage showing at 52.44% (52.07%) full as per AGSI+. LNG vessels due to arrive in UK the next couple of weeks is 3 (3).

This morning we see the Front Month TTF contract at €37, UP €1 to the previous settlement.

A quick check on some key contracts (rounded to nearest whole):
Curve TTF Front Month €37, Front Season €38 (vs €36 and €37)
Curve NBP Front Month 85p, Front Season 97p (vs 84p and 96p)
UK Gas NBP spot 88p (from 85p)
UK Power Base spot £84 (from £50)

UK power prices show the UK Front Month Baseload contract at £78 (£77) and Front Season at £89 (£87).

In other areas of the market Brent Oil is at $69 ($70) and EUAs are at €75 (€74). Henry Hub is at $3.49 ($3.51) and JKM is at $12.46 ($12.45) with TTF Equiv of $12.29 ($12.11).

Numbers in brackets show the previous reports value.