|Market Close||Market Close|
|Planned outages in Norway will restrict imports between the 10-12th of October, while unplanned outages affected Heimdal and Entry Segal, helping to lift prices on Thursday. Oil prices also recorded further gains which supported the far-curve, while the Pound continued to weaken against the Euro.||Uncertainty in regards to French nuclear availability resulted in some gains on the power curve yesterday, with bullish oil and a weakening Pound also contributing factors. Healthy wind generation provided some opposition to the bulls on the far-curve but failed to stop the prompt closing at a premium.|
|Market Open||Market Open|
|The system has opened long this morning as Norwegian flows were rerouted to the UK from Europe. However, maintenance at the Corrib field in Ireland is still on-going and planned outages in Norway next week have helped restrict losses on the near-curve. Further out, price movement is minimal with little support provided by coal and oil markets.||Temperatures are expected to remain mild over the next fortnight, while wind levels will remain healthy, resulting in a strong loss on the prompt this morning. Further delays at French nuclear facilities have helped to support the rest of the near-curve, while weaker coal has capped bullish movement at the back of the curve.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices continue to recover and trade above $56.9/b this morning. Another storm is set to hit the US which has closed oil facilities on the Gulf coast, while the prospect of further OPEC production cuts provides on-going support.
1-year forward prices
Market close data has revealed that the 1-year forward price for commercial gas increased slightly, while commercial electricity recorded a minor loss – closing at 45.89ppt and £45.18/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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