Europe & Russia: Price trends

August 2016

After falling from the highs seen in late July, NBP day-ahead prices are around 31-32 p/th, as the faltering pound continues to push up the price of continental gas.

Market tightness, in part the result of supply shortages caused by scheduled and unscheduled maintenance, helped push up prices at the end of July. NBP day-ahead prices rose to around 36-37 p/th in late July – the highest level seen so far this year. The spike was short-lived, however, and prices were around 34 p/th by the start of August and roughly 31-32 p/th by the middle of the month. Prices in August have been stable, with the average NBP day-ahead around 33-34 p/th over the first half of the month, broadly the same as the average seen in both June and July.

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