|Market Close||Market Close|
|The St Fergus terminal remained offline yesterday which limited flows into the UK, while demand levels also increased due to colder temperatures; this resulted in a gain for the prompt which filtered through to the rest of the near-curve. Further out, the sentiment was more bearish as contracts were influenced by weaker oil.||The majority of contracts displayed gains yesterday afternoon as consumption levels increased due to lower temperatures and an expected drop in wind generation supported the Day-Ahead contract. Winter-16 contracts rallied higher following news of closures at UK coal plants which will significantly impact supply.|
|Market Open||Market Open|
|Norwegian flows are back to normal levels this morning as the St Fergus terminal is back online as maintenance has concluded. The UK gas system is oversupplied despite gas demand increasing by 5%, thanks to the increase in Langeled flows and strong LNG send-outs. However, temperatures are expected to remain cold over the next few days which has supported the prompt, with further upward pressure coming from a weaker Pound.||The news of shutdowns at coal facilities continues to impact the power curve this morning with Winter-16 reaching a record high. Elsewhere, rising demand levels continue to provide upward pressure on the near-curve but another drop in Brent has restricted the gains further out.|
Brent 1st-nearby prices displayed a drop yesterday afternoon but have recovered slightly at the start of today's session with support coming from a weaker US Dollar, despite the bearish overall outlook.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased - closing at 30.78ppt and £35.50/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