Cold conditions are expected to start from today. 

• As the week develops, temperatures are forecast to turn colder and well below the seasonal normal.
• Weather models suggest dropping to as much as 5 °C below average by the end of the week.
•  On the back of increased heating demand, we saw net gas storage withdrawals on Friday, and they are expected to increase more strongly today.
• Wind generation of around 15GW in the UK will likely cap any significant upside on power and PPAs, but this week may present a fixing opportunity for some generators

In other news : 

• Russia’s sanctioned Arctic LNG 2 plant has started curbing gas production as the buildup of winter ice makes exports more challenging. 
• Arctic LNG 2 has been supplying its sanctioned cargoes to the Asian markets. 
• Ukraine has reached an agreement with Greece to help secure the LNG for the coming winter heating season. 

Update 18th November

• Gas and Power markets move lower in line with the broader commodity complex and equities.
• Green Gas is flat to yesterday’s close.
• PPA Markets are now 1% lower

Update 19th November

• NBP Gas Down 3.25%
• Baseload UK Power Down 2.5%