Market Insights 06/08/2025

DAILY MARKET REPORT – 06/08/2025

A muted session yesterday with very little movement seen across the board.

EU gas storage facilities across Europe, now at 70% full, remain a key focus. One of the biggest facilities, SEFEs Rehden which is around 4% of Europes total capacity, is holding further capacity auctions. The site is currently just 12% full and is heavily weighing on the overall picture.

Wind generation in the UK is expected to pick up again tomorrow, which may push day ahead auction price levels lower once again. Into next week the wind generation is expected to remain low.

Yesterday saw the TTF Front Month contract settle at €34.41 (from €34.28) and the NBP Front Month contract at 84.86p (from 84.59p).

No unplanned outage this morning and we see a Norwegian flow nomination level at 343mcm (340). EU gas storage showing at 69.96% (69.68%) full as per AGSI+. LNG vessels due to arrive in UK the next couple of weeks is 1 (0).

This morning we see the Front Month TTF contract at €34, NO CHANGE to the previous settlement.

A quick check on some key contracts (rounded to nearest whole):
Curve TTF Front Month €34, Front Season €36 (vs €34 and €36)
Curve NBP Front Month 85p, Front Season 93p (vs 85p and 93p)
UK Gas NBP spot 83p (from 80p)
UK Power Base spot £69 (from £16)

UK power prices show the UK Front Month Baseload contract at £79 (£78) and Front Season at £86 (£85).

In other areas of the market Brent Oil is at $68 ($69) and EUAs are at €72 (€71). Henry Hub is at $3.01 ($2.93) and JKM is at $11.99 ($12.01) with TTF Equiv of $11.69 ($11.64).

Numbers in brackets show the previous reports value.