The prompt was supported by below-forecast margins in today’s session, allowing the day-ahead spark spread to recover. The spot was seen to open at a discount to its closing assessment on Wednesday. The front week closed lower, while the day-ahead baseload was assessed higher at the end of the session. Power system was moderately long. National grid assessed the average daily supply surplus for the week ahead at 10 GW.

On the curve, rising gas market prices pushed prices up, and strong carbon prices supported prices further. Increased UK gas demand was offset by stronger LNG flows. The front winter was assessed at its highest level in about three weeks. The October contract reached its highest level since early August.  

Further out prices moved in line with earlier dated contracts.