19th October 2015 | Posted by: Daniel Birkett | Market Analysis

Gas Power
Market  Close Market  Open
Near-curve gas prices moved higher on Friday as unplanned maintenance is set to reduce Norwegian imports into the UK by 30mcm today, sending the system into undersupply. Meanwhile the Pound continued to strengthen against the Euro which restricted some of the gains and resulted in a few losses further along the curve. Lower Norwegian output has supported contracts across the gas curve this morning as the system is 29mcm short. However, a milder weather forecast and an expected increase in flows from other supply sources should help prices move down in the afternoon, with further LNG deliveries also scheduled to arrive in the UK this week.
Market Close Market Open
An expected rise in temperatures this week and a comfortable renewable generation forecast helped to weigh on power contracts on Friday morning. Some upward movement was displayed later in the afternoon however as contracts followed rising gas. The Drax power plant has suffered an outage which has had a significant impact on generation levels in the UK, resulting in gains across the curve. The prompt ignored healthy renewable generation and moved higher, with stronger gas contracts also offering support to the near-curve.

Brent Summary

Brent 1st-nearby prices climbed higher on Friday following several bearish sessions as the November contract expired and US stock levels showed some decline.

1-year forward prices

Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased - closing at 41.13ppt and £42.48/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

energy price graph - 19-10-2015