|Market Close||Market Close|
|Scheduled maintenance at the Easington gas terminal will limit imports into the UK today which helped contracts inch higher on Monday; with further support coming from an expected drop in temperatures later this month. Weaker oil prices helped to weigh on some contracts further along the curve but the overall sentiment on the curve was bullish.||Power contracts found support from the rising gas market yesterday, with a rebound in oil also a bullish factor. The prompt added to its price due to an expected drop in wind generation today, while nuclear capacity in the UK also remains low due to maintenance.|
|Market Open||Market Open|
|Norwegian flows are reduced this morning due to maintenance at Easington which has led to further gains across the near curve as the system has opened short, although a slight drop in residential demand has limited some of the upward movement. Brent prices also rallied higher yesterday due to strikes in Kuwait but have stabilised this morning which has been reflected on the gas curve.||The overall sentiment on the power curve remains unchanged this morning with rising gas and oil markets continuing to lift contracts across the curve. Milder weather has helped to reduce consumption levels somewhat but renewable generation and nuclear capacity is down; restricting supply.|
Brent 1st-nearby prices rebounded overnight as the effect of worker strikes in Kuwait has offered strong support, with the drop in oil output offsetting the result of the meeting in Doha over the weekend, when major oil producers failed to reach an agreement.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased - closing at 31.20ppt and £34.50/MWh, respectively.
Today's prices can also be found in an easy to read table on our 'current UK energy prices' page.
Click graph to enlarge