| Gas | Power |
| Market Close | Market Close |
| Gas prices decreased on Friday on the back of weakening coal and oil contracts, as well as strengthening financial markets. However, a delay in restarts at French nuclear power plants restricted some of the downward movement at the front of the curve. In terms of short term supply, the UK gas system remained long throughout the session despite low LNG send-outs. | Near-curve power prices closed at a premium on Friday as the return of some nuclear units in France were expected to be delayed. Meanwhile, contracts on the far-curve shed from their price with a drop in APi2 coal and weaker oil the main market drivers. |
| Market Open | Market Open |
| Temperatures are milder today across Europe which has helped to weigh on prompt gas contracts as residential demand has eased. The UK gas system has opened long once again on the back of this drop in demand. Further along the curve, prices continue to take direction from falling coal and oil. | Day-Ahead power has added to its price this morning as the UK market continues to mirror movement in France due to on-going outages at nuclear reactors; EDF announced that 2 of the outages have been extended by 2-3 days. However, the rest of the curve is largely bearish with contracts following their weaker gas counterparts and falling Brent. |
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Brent Summary Brent 1st-nearby prices moved down on Friday and have stabilised just below $44.7/b this morning. Bearish sentiment was provided by an increase in OPEC production which reached new record levels in October. 1-year forward prices Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased - closing at 44.65ppt and £45.43/MWh, respectively. Today's prices can also be found in an easy to read table on our 'current UK energy price' page. |
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