Daily Market Analysis: 05.10.23

Yesterday session was another bearish one in the main, with prices across the curve losing value in the afternoon session. The exception being the W-25 period, which made gains, as the trend of a flattening forward curve continued.

On the day ahead markets, price movements were muted from open to close, with minimal movement. This morning we have seen plenty of movement again on the UK Baseload Day ahead, which has lost ￡14.81 in value to open at ￡61MWh. NBP day ahead has seen very little movement in contrast, with just a 2.7p decline to open at 74.95p/th.

While the day ahead markets are down, and so too is much of the NBP, UK Baseload prices have posted gains on opening by ￡4 to ￡5. The power market continues to be the more volatile of the two right now and be resistant to bearish trends on the gas market.

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