|Market Close||Market Close|
|Gas prices on the near-curve moved higher ahead of scheduled maintenance work in Norway which will reduce flows into the UK. French nuclear supply also remains a factor as safety checks will limit available capacity, resulting in increased gas-fired generation. A rise in LNG prices also contributed to the gains, while there was little change on oil and coal markets.||A warmer weather outlook for the next fortnight and an expected rise in wind levels helped to limit any upward movement on the near-curve on Monday. The possibility of enforced safety checks in France continued to provide on-going bullish pressure, while coal and oil were little changed.|
|Market Open||Market Open|
|Temperatures are set to increase slightly over the next few months which has helped to weigh on some contracts this morning. The UK gas system is also well-supplied despite planned outages in Norway. Meanwhile, oil prices show minor upward movement but this has done little to support contracts on the far-curve.||Wind generation is expected to ramp up over the next few days which has helped to pressure down the prompt this morning. Temperatures are also expected to sit around the seasonal average, reducing residential demand. Movement further along the curve is minimal as the oil market has stabilised and the coal market is recovering from last week’s national holidays in China.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby display a gain this morning following a stable session yesterday, with no real market driver yesterday, traders are awaiting news regards the Iranian nuclear deal with a decision from Donald Trump expected next week.
1-year forward prices
Market close data has revealed that the 1-year forward price for commercial gas showed a small loss, while commercial electricity increased – closing at 45.65ppt and £45.15/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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