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Prices drop from all time highs

Close price: Temperatures may well hit all time highs today, but it looks like the markets won’t be. Prices finally gave way somewhat on Friday to close the week. Gas notably down 8% as selling interest hit the markets.

Opening price: It’s a tad warm today. And by tad, I mean the warmest temperatures the country has ever seen. This means intense cooling demand to strain the grid, however the system is only slightly short currently, and prices are actually down slightly. Increasing wind speeds are helping the immediate supply picture.

Temperatures are expected to ease off from Wednesday, although still above the seasonal norms. All eyes are on Nord Stream 1 and weather forecasts for Europe this week.