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Healthy supply weighs on prices - 10-01-2022

Closing price: Prices dropped on Friday in the volatility that is becoming the norm. Despite the reduction in gas flows from Russia, LNG supply has remained strong into the UK with 9 cargoes delivered this month already. With the UK expecting another 16 before February, it could be a near record month.

Opening price: With the exception of day ahead power, prices are down across the board this morning, with supply remaining strong thanks to LNG delivery and temperatures due to climb to 8°C highs tomorrow helping the decline. The U.S. and Moscow are scheduled to resume talks this week regarding Ukrainian border tensions.