Market Insights 20/08/2025

DAILY MARKET REPORT – 20/08/2025

A further muted session seen yesterday as fundamentals remain unchanged and the world watches in anticipation of when and where the potential meeting of Presidents Putin and Zelenskyy will meet to discuss the end of the conflict.

Low wind generation is expected for the rest of this week but forecast to increase early into next week.

Gas stocks remain steadily increasing, now full to almost three-quarters of capacity.

Yesterday saw the TTF Front Month contract settle at €31.23 (from €31.27) and the NBP Front Month contract at 76.82p (from 76.97p).

No unplanned outage this morning and we see a Norwegian flow nomination level at 321mcm (320). EU gas storage showing at 74.21% (73.91%) full as per AGSI+. LNG vessels due to arrive in UK the next couple of weeks is 0 (0).

This morning we see the Front Month TTF contract at €31, NO CHANGE to the previous settlement.

A quick check on some key contracts (rounded to nearest whole):
Curve TTF Front Month €31, Front Season €33 (vs €31 and €33)
Curve NBP Front Month 77p, Front Season 84p (vs 77p and 84p)
UK Gas NBP spot 76p (from 76p)
UK Power Base spot £78 (from £79)

UK power prices show the UK Front Month Baseload contract at £73 (£73) and Front Season at £81 (£81).

In other areas of the market Brent Oil is at $66 ($67) and EUAs are at €71 (€72). Henry Hub is at $2.77 ($2.89) and JKM is at $10.92 ($10.93) with TTF Equiv of $10.69 ($10.70).

Numbers in brackets show the previous reports value.