|Market Close||Market Close|
|Gas prices decreased on Friday ahead of the new gas year and the expiration of numerous contracts. Weaker coal prices also applied bearish pressure to the far-curve, while temperatures during October are forecast to be milder than average, further weighing on contracts.||Four reactors at Tricastin in France went offline on Friday, supporting October contracts. In contrast, the Day-Ahead contract decreased due to an expected rise in renewable generation today. Losses were also visible on the far-curve thanks to weakening Brent and coal.|
|Market Open||Market Open|
|Near-curve gas prices display further losses this morning as strong wind generation has reduced CCGT demand. Norwegian supply has also improved as maintenance work has concluded, with UKCS production also showing an increase. However, a rebound cannot be ruled out as temperature forecast for later in the week has been revised down which will lift residential demand, while the French nuclear situation is also supportive.||Healthy wind generation has weighed on the prompt this morning with strong levels also expected tomorrow. The losses have filtered through to the rest of the near-curve but expected outages at French nuclear facilities continue to limit the downward movement. Further out, bearish coal and oil markets have restricted the gains but traders await fresh information in regards to French nuclear production.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices display a strong loss following the expiration of the November delivery contract. The market currently lacks direction with unsupportive figures released by the likes of Bakker Hughes and OPEC.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 44.95ppt and £44.61/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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