The UK opened with a short system on Thursday morning, sitting 33mcm short, with prompt prices climbing and the curve contracts easing falling.
The warm weather witnessed in the region has eased off and the gas demand for power generation should begin to reduce.
Oil continued to weaken on Thursday despite a draw in US stock levels. Officially in a bearish market as Oil holds prices at 10 month lows. Libya and Nigeria have increased production and global supply remains strong.
Conflicting views on raising UK interest rates in the Bank of England helped contribute to a weakening GPB to Euro on Wednesday. Carney against the decision due to Brexit fears but the chief economist expressed the need to increase rates.
Cooler weather in the UK for the coming week reduced the air con demand and helped prompt contracts ease on Thursday morning.
Increased cloud cover has reduced the solar generation levels for Thursday.
Expectation of strong wind generation over the course of the weekend before retreating back to average levels into next week.
Weakness in the Coal & Oil markets on Wednesday helped pressure the curve with Oil holding its lowest price for 10 months.
In the Netherlands, gas prices opened lower on Thursday morning despite a short system.
Temperature remains strong in the continent for Thursday before beginning to ease off into the weekend.
Oil prices dropped to 10 month lows on Wednesday despite a drop in US Stock levels. Fears of global supply continue to outweigh the pressure from OPEC and the production cut.
In both France & the Netherlands, late strength in the Euro against the Pound ensured that curve contracts weakened further.
German power prices eased off on Wednesday following similar losses in the Coal market.
Temperatures have been revised downwards for the region on Wednesday leading to a reduction in the air conditioning demand.
In the Netherlands, the power market has followed the TTF counterpart this morning opening lower.
Oil prices continued to fall sitting at 10 month lows which helped contribute to weaker curve contract prices.