20 June 2025

PPA and GPA Pricing Update w/c 16th June 2025

Middle East risk continues to be priced into Green Gas and PPA markets following the broader commodity complex.

NSR PPA and Green Gas Markets Update: 16th June 2025

Any disruption to Qatari LNG exports would be significant.
While Europe obtains most of its LNG from the US, this is a global market, so any supply disruption will impact pricing more broadly.

We had a very busy afternoon on Friday, particularly on the PPA desk. We view this as a forward-fixing opportunity for those generators and asset owners looking for budget certainty into 2026 and downside price protection.

NSR PPA and Green Gas Markets Update: 17th June 2025

Volatile afternoon yesterday at the NBP with gas market swings of 5%.
This morning, Green Gas is up around 2% at the front end of the price curve.
On the Power side, European markets continue to find support on fears that France’s nuclear generation could be curtailed again.
In 2022 and 2023, EDF was forced to shut down generation to fix cracked pipe work.
The new problem at the Civaux 2 plant is another fault due to “thermal fatigue”.
EDF are optimistic that it can be fixed quickly, but NSR will continue to monitor data flows.
PPA pricing is flat to yesterday’s close.

If you have any questions, please let us know

NSR PPA and Green Gas Markets Update: 18th June 2025

Underlying gas and power markets edge higher as traders await news on whether the US is planning to become directly involved in the conflict in the Middle East.
Green Gas Markets + 1%
PPA Markets are Unchanged

NSR PPA and Green Gas Markets Update: 19th June 2025

PPA and Green Gas pricing moved down in late trade yesterday, but we are back up again this morning.
The news headlines are driving the market, so it is very difficult to call.

We maintain our house view that this is a fixing opportunity for those generators looking for forward downside price protection.