8th May 2017 | Posted by: Natalie Ormrod | Market Analysis

Gas Power
Market Close Market Close
UK gas prices fell for a second day on Friday. The expected drop in Norwegian supply weighed on prices throughout the day, until a late rally on Friday afternoon. Power prices tracked the bearish NBP and Coal market on Friday. Demand and wind generation were lower, while solar levels were higher.
Market Open Market Open
Reductions in Gas prices continue today as warmer 14-day forecasts weigh on prices, and withdrawals increased over the last 4 days. The UK system is short this morning as Langeled flows reduce, and there are outages at Troll and Gullfaks. The Umm Slal LNG tanker is expected to dock at South Hook terminal this evening. The UK Power market has opened mixed this morning as day-ahead prices have risen sharply due to low wind levels for this week. There are minimal movements on the curve which is tracking the NBP curve as it softens on the back of warmer weather forecasts, despite falling UK supply levels.

For a breakdown of the current generation mix visit our Power Generation Insights page.

Brent Summary

Geopolitical and macroeconomic news has seen a resurgence in Brent crude prices. Strong US employment figures, the Saudis announcing production cuts are likely to continue, and the outcome of the French presidential election have all impacted on the morning session.

1-year forward prices

Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 41.90ppt and £41.75/MWh, respectively.

Today’s prices can also be found in an easy to read table on our ‘current UK energy price' page.

Click to enlarge graph

Energy Price Graph - 08/05/2017

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