|Market Close||Market Close|
|Movement along the gas curve varied on Friday with an increase in Norwegian and UKCS flows weighing on near-curve prices, while stronger fuel prices supported the far-curve. Several outages were resolved which resulted in improved supply coming into the UK, while oil rose to almost $80/b and coal was supported by higher Asian demand and some supply issues.||Power prices increased during Friday’s session with direction coming from coal and oil markets, with little in the way of resistance provided by gas prices. Renewables improved slightly, restricting gains on the prompt, although extremely warm weather continued to increase cooling demand.|
|Market Open||Market Open|
|Despite rising exports to Europe, the UK system is slightly oversupplied this morning as Norwegian flows are much healthier following the end of maintenance. This has helped to limit gains at the front of the curve, although rising coal prices continue to support the gas market, ignoring a drop in Brent.||Power prices are stable-to-bullish this morning with rising coal prices still acting as the main market driver. Above average temperatures mean solar power remains healthy, but wind and hydro availability is weak, helping the prompt to climb higher.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices display a strong loss this morning, correcting down after reaching their highest price during June on Friday ($79.7/b). Bearish pressure was provided by a rise in Saudi Arabian production which has been encouraged by Donald Trump and Brent currently trades at $77.5/b.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased – closing at 57.98ppt and £56.35/MWh, respectively.
Today’s prices can also be found in an easy to read table on our ‘current UK energy price' page.
Click graph to enlarge
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