Europe & Russia: Price trends
Supply-side issues have supported NBP and European day-ahead hub prices during the peak of summer.
The UK NBP day-ahead price was around 42-43 p/th in mid-August, up from the 36 p/th average seen in July. The rise has been driven in part by supply-side issues, with unexpected outages disrupting flows from Norway and the UK North Sea in July. Further unplanned outages hit volumes from Norway during the first half of August. This has supported prices and helped drive an increase in the NBP day-ahead over the start of the month.
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