Directional impact on forecast:
Bullish for NBP day-ahead prices
Supply-side support has continued to provide a floor the NBP day-ahead in recent weeks, despite the fact weaker demand has put pressure on prices. However, with colder temperatures forecast to hit the UK over the coming week, demand-side support for prices is expected to increase.
The NBP day-ahead averaged around 45 p/th in October, its highest average for the month since 2014. Prices remained comparatively strong through much of the month and only dipped to lows...