European day-ahead prices have fallen and further declines are expected over the coming weeks.
Periods of unseasonable cold supported hub prices in Europe in early May but as demand weakens, so too will prices. The NBP day-ahead was up to around 43 p/th at the start of the month and the TTF was also pushed up by demand-side support, rising to roughly 41 p/th. However, a general decline in hub prices was seen over the first half of the month. The NBP and TTF day-ahead had fallen to around 37-39 p/th by mid-May.
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