Europe & Russia: Price trends

October 2016

Colder temperatures have hit Europe, boosting hub prices at the start of the winter season.

The NBP day-ahead had reached 43 p/th by mid-October, a 31% rise from the start of the month. Lower temperatures have supported increases in heating-related gas use and overall demand. Reduced LNG flows have also helped to tighten the market and support the price rise. Jumps in the NBP day-ahead have boosted it above where it was at the same time last year. This is the first time in 2016 that the NBP day-ahead has been higher than it was at the same time last year.