Market Insights 15/09/2025

DAILY MARKET REPORT – 15/09/2025

A small upward movement seen on Friday as the week closed out.

Higher winds have pushed generation over the weekend and into early this week to higher levels and, in turn, depressed spot power prices.

Norwegian gas export is still throttled due to ongoing planned maintenance, expected to last around another week. Meanwhile Dvalin returns from unplanned outage.

EU gas storage showing an error in overall value this morning due to a 0% value for Belgium (which was previously >92%).

Friday saw the TTF Front Month contract settle at €32.66 (from €32.32) and the NBP Front Month contract at 80.16p (from 79.22p).

No unplanned outage this morning and we see a Norwegian flow nomination level at 236mcm (217). EU gas storage showing at 79.60% (79.87%) full as per AGSI+. LNG vessels due to arrive in UK the next couple of weeks is 2 (0).

This morning we see the Front Month TTF contract at €32, NO CHANGE to the previous settlement.

A quick check on some key contracts (rounded to nearest whole):
Curve TTF Front Month €32, Front Season €34 (vs €33 and €33)
Curve NBP Front Month 80p, Front Season 86p (vs 79p and 86p)
UK Gas NBP spot 83p (from 79p)
UK Power Base spot £12 (from £33)

UK power prices show the UK Front Month Baseload contract at £75 (£74) and Front Season at £84 (£83).

In other areas of the market Brent Oil is at $67 ($66) and EUAs are at €76 (€76). Henry Hub is at $2.94 ($2.94) and JKM is at $11.36 ($11.35) with TTF Equiv of $11.24 ($11.12).

Numbers in brackets show the previous reports value.