Day-ahead started at around 23.00 p/th, gaining more than 2.00 p/th during the session to close well above the 25.00 p/th mark. Most deals were done in a range of 23.00 p/th to 24.00 p/th in healthy volumes. Market sources said the gains had been exclusively NBP driven.
Day-ahead strength filtered out into the adjoining periods, with Balance-of-Month recording a 1.80 p/th jump. The contract transacted at 24.10 p/th and 24.30 p/th.
In the front months, November firmed slightly from Wednesday´s level, dealing at 25.10 p/th. On the curve, trading interest focussed on the Q1 ´05 contract, which went through several times in the range 28.150-28.275 p/th. “The basis has hardly changed (on the curve), prices moved in line with the NBP,” a trader said, pointing out that Q1 ‘05 contracts were priced at a discount to NBP.
Trading interest in Q1 ´05 spilled over to the Dutch TTF, where two 30 MW parcels were recorded at EUR 13.25/MWh each. November dealt several times between EUR 12.175/MWh and EUR 12.25/MWh. In addition, a Day-ahead went through at EUR 12.35/MWh.
A trader said that the Interconnector´s return to full operation would not have affected liquidity at TTF, saying that TTF
was “still pretty active.” At Emden, a Day-ahead deal was reported at EUR 11.75/MWh and another spotted at EUR 11.45/MWh,
though the latter´s volume could not be confirmed.
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Gas - Weekly review
Freitag, 17.10.2003, 08:12 Uhr