Energy Market Update - 08 October 2025
Prompt gas and power firmed as lower wind and Ukraine risk lifted near-term demand. Storage is strong and Norwegian flows are improving, which kept moves contained.
Natural gas rose on the day. The UK system opened long with demand at about 170 mcm, UKCS near 98 mcm, and Langeled around 67 mcm. Linepack was positive and LNG send-out picked up to about 16 mcm as two cargoes approach. Norwegian nominations were reported above 310 mcm despite brief issues at Troll and reduced capacity at Nyhamna. European storage sits close to 83% full. NBP Day-Ahead settled at 85.85p/therm. The NBP November contract was 85.55p/therm, with early indications a little softer this morning.
UK power followed the gas move on the near curve, but remained wind led on the prompt. Day-Ahead baseload settled at £91.73/MWh after wind eased through the trading window. Wind supplied 28.5% of GB generation on Tuesday, down from 39.9% on Monday and 60.8% on Sunday. November baseload was about £85.70/MWh and Q1-26 around £86/MWh. Interconnector imports from France and the Netherlands helped margins. Nuclear availability is set to rise through mid-October.
Other commodities were mixed. Brent settled near $65.45/bbl. European carbon closed around €78.31/t and UK allowances near £55.43/t. Coal for Cal-26 was about $99.46/t. In global gas, JKM was close to $11.48/MMBtu and Henry Hub near $3.31/MMBtu.