|Market Close||Market Close|
|The outage at the Kollsnes processing facility remained unresolved yesterday, limiting Norwegian gas flows into the UK and offering support to the prompt. However, this drop in supply had little effect on the rest of the near-curve which was generally unchanged, while weaker Brent helped to weigh on prices further out.||Movement on the power curve was limited yesterday as the supply/ demand outlook was largely unchanged. Fuel prices were also stable and the gas market was equally quiet in an uneventful trading session.|
|Market Open||Market Open|
|Gas prices are stable this morning with very little change to fundamentals, although weak Norwegian flows and a higher demand outlook for the start of next week could offer support. Far-curve contracts also display very little movement despite a small increase in oil prices.||Power contracts track the movement of gas this morning and show very little movement with most contracts displaying no change whatsoever. Milder weather is expected later in the month which could weigh on some near-curve contracts this afternoon, while wind generation is also set to increase but this has failed to have any impact on the prompt.|
Brent 1st-nearby prices have displayed a small rebound this morning and currently trade just below $44/b with little to entice traders in either direction as the focus remains on the outcome of the 'freeze deal' meeting.
1-year forward prices
Market close data has revealed that the 1-year forward price for commercial gas decreased slightly, while commercial electricity was unchanged - closing at 31.03ppt 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