Demand-side support for prices set to ease in Europe4 January 2017
Weaker demand is expected to limit gains at most major European hubs next week. However, more price rises could be seen in southern France as the market looks subject to further tightening.
A period of colder weather forced up heating-related demand and supported price gains at the end of last month. The NBP day-ahead rose to nearly 54 p/th on 30 December, a 14% increase from the previous week. Severe cold hit much of the UK, boosting heating-related demand and supporting the price rise. The UK saw the sharpest increases, but prices also went up at major Continental hubs. The TTF day-ahead increased to around 49 p/th on 30 December, an 8% rise from the week before.
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