Market Insights 29/09/2025

DAILY MARKET REPORT – 29/09/2025

A small upward movement seen in Fridays session to end the week.

Temperatures are expected to remain close to seasonal normal for the weeks ahead, whilst later this week could see some higher power generation thanks to increased wind.

The Norwegian assets appear to be back online and exporting back to full throttle following their summer planned outage and a few struggles to get back to service.

This week sees the gas interconnector take its annual service period.

The EU gas storage monitor issue seen in Fridays reporting has also been corrected.

Friday saw the TTF Front Month contract settle at €32.70 (from €32.46) and the NBP Front Month contract at 81.45p (from 81.06p).

No unplanned outage this morning and we see a Norwegian flow nomination level at 321mcm (301). EU gas storage showing at 82.32% (79.86%) full as per AGSI+. LNG vessels due to arrive in UK the next couple of weeks is 3 (2).

This morning we see the Front Month TTF contract at €32, DOWN €1 to the previous settlement.

A quick check on some key contracts (rounded to nearest whole):
Curve TTF Front Month €32, Front Season €33 (vs €33 and €33)
Curve NBP Front Month 81p, Front Season 87p (vs 81p and 86p)
UK Gas NBP spot 82p (from 80p)
UK Power Base spot £94 (from £83)

UK power prices show the UK Front Month Baseload contract at £75 (£76) and Front Season at £83 (£84).

In other areas of the market Brent Oil is at $70 ($69) and EUAs are at €76 (€76). Henry Hub is at $3.21 ($2.90) and JKM is at $11.30 ($11.28) with TTF Equiv of $11.23 ($11.10).

Numbers in brackets show the previous reports value.