British wholesale gas prices climbed on Friday on tight supplies which kept pressure on the spot market. Maintenance works at Kollsnes gas processing plant is scheduled to start today and will last until September 10. Gas prices for next day delivery traded up 0.25 pence per therm between Thursday and Friday morning to 53.40 pence a therm at 08:30 GMT, while within-day prices climbed 0.2 pence to 53.20 pence per therm. Further out on the curve prices also rose, with contracts for delivery next winter trading above 65 pence per therm, gaining almost 6 percent since the beginning of the month.
Nordic power prices for delivery in the fourth-quarter eased on Friday morning as weather forecasts failed to show a firm dry weather pattern. The benchmark quarter-ahead contract for baseload (24 hours) slipped 55 euro cents to 38.70 euros ($47.64) a MWh at 09:00 GMT from Thursday's close.