Weaker demand adds to pressure on prices in Europe

The NBP day-ahead dipped to 27 p/th at the start of this week after warmer temperatures eased demand, adding to pressure on prices. In addition, strong output from wind generation reduced gas offtake from the power sector. On the supply side, strong piped supplies and greater LNG send-out also weighed on UK hub prices. Day-ahead prices on the continent have also fallen over the past week, with the TTF dropping below 26 p/th on Monday – a decline of 1 p/th compared with the previous week.