Europe & Russia: Price trends
European day-ahead hub prices are hovering around 30 p/th, with further declines on the horizon.
The NBP day-ahead averaged around 30-31 p/th from late February to mid-March. This marked a small increase from the first half of February when the NBP day-ahead remained below 30 p/th. Brief spells of colder weather across the UK offered some support to demand, which was boosted by offtake from the power sector. Nevertheless, the NBP is at a multi-year low for this time of the year - the average NBP day-ahead price for the first half of March is at its lowest since 2007.