|Market Close||Market Close|
|Planned maintenance in Norway impacted flows into the UK on Friday, reducing storage injections and creating additional supply risk for Q1-21, helping towards gains across the near curve. Further out, prices were pushed higher by stronger coal, carbon and oil.||Day-Ahead power decreased on Friday, helped by a windier and milder weather outlook for the start of this week. Rising gas, carbon, coal and oil offered support to the rest of the curve, with maintenance in Norway tightening gas supply|
|Market Open||Market Open|
|Gas prices display strong gains despite a comfortable system, with mild temperatures and healthy wind levels significantly reducing demand. Prices continue to take support from rising fuel markets, with maintenance and unplanned outages in the North Sea offering additional support.||Around 25% of French nuclear availability is currently offline due to maintenance, resulting in increases across the power curve this morning. This maintenance is expected to run into Q1-21, placing greater pressure on gas supply.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent Crude has eased back below $50/b but the short term outlook remains bullish due to the COVID-19 vaccine rollout and reports of an explosion on a Saudi oil tanker off the port of Jeddah, raising concerns in regard to transit in the region.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased, closing at 43.09ppt and £51.33/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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