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Prices climb by over 10% since Friday - 15-09-2021

Markets have exploded in price over the last couple days, with both gas and power easily up 10% or greater. The German regulator announced that it’s certification of Nord Stream 2 pipeline will take over four months, resulting in winter month prices surging in price, as many hopes were this would be operation this month.

This combined with very weak wind generation, continued maintenance work in the North Sea, and storm Nicholas halting production to gas and oil production in the Gulf of Mexico (and halting LNG delivery to Europe) is all combining to keep pushing prices higher as we enter Autumn and demand starts to pick up. Prices are moving higher further still this morning with Q4 gas prices trading at 181ppth currently with fear gripping the markets for this winter. Prices are widely expected to be pulled today from all suppliers as this plays out.