|Market Close||Market Close|
|Near-curve gas prices displayed a small increase towards the end of yesterday's session as Norwegian flows into the UK fell due to an unplanned outage at the Kollsnes processing facility. Movement further along the curve was generally bearish with a milder weather outlook and weaker Brent weighing on contracts.||Power contracts followed the movement of gas on Wednesday as near-curve contracts were stable-to-bullish as fundamentals were largely unchanged from the previous session. Afternoon gains on the gas curve led to some upward movement on the prompt, while a fall in oil prices pressured down contracts further out.|
|Market Open||Market Open|
|Norwegian flows are slightly improved this morning following yesterday's outage, although demand levels could increase as numerous nuclear plants in the UK are set to undergo maintenance which will lead to a rise in gas-fired generation. This has resulted in a stable outlook for the gas curve today, although weaker oil has provided some downward pressure further out.||Like gas, the power curve is generally stable this morning with minimal movement displayed in either direction. Temperatures have been revised down for the coming weeks which will lead to a rise in consumption, offering some support. However, a strengthening Pound and a decrease in Brent has helped to offset any bullish factors.|
Brent 1st-nearby prices have moved down overnight as the meeting in Doha draws closer and the market has begun to show some uncertainty, despite lots of optimism in previous sessions; Brent currently trades at $43.68/b.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased - closing at 31.10ppt and £34.45/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