|Market Close||Market Close|
|Gas contracts moved higher on Friday with direction coming from a drop in Norwegian imports due to maintenance, offering support to prices on the near-curve. Further out, a surge in oil prices helped towards gains but a stronger Pound restricted some of the upward movement.||Bullish movement could be observed across the power curve on Friday with direction coming from stronger gas and oil, although a strengthening Pound offered some resistance. Elsewhere, fundamentals such as demand levels and renewable generation were largely unchanged.|
|Market Open||Market Open|
|Norwegian flows have improved this morning, resulting in a long UK gas system which has helped some contracts on the near-curve decrease. Meanwhile prices on the far-curve have been dictated by stable Brent and the increases are minimal.||Rising wind generation has helped Day-Ahead power open flat this morning, while a rising gas market has supported the rest of the near-curve. Far-curve contracts continue to add their price with stronger coal and oil the main factors behind the bullish sentiment.|
Brent 1st-nearby prices have recorded strong gains, almost cancelling out all of last week's losses to trade back above $50/b. A weaker US Dollar and easing 'Brexit' concerns are two of the factors behind this increase.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased - closing at 39.70ppt and £41.37/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