|Market Close||Market Close|
|News that the 20 wells would be available at the Rough storage facility from the 1st of November helped the Winter-16 contract shed from its price yesterday. The losses filtered through to the far-curve with the help of weakening Brent. At the front of the curve, prices also moved down in the afternoon with the exception of the prompt following a bullish opening caused by an undersupplied system.||Power contracts displayed mixed movement with the Day-Ahead and Front-Month contracts holding firm and the rest of the curve displaying losses. The power curve was also influenced by further wells being made available at the Rough storage facility, weighing on Winter-16 in particular. Any losses on the prompt were restricted by a warm weather forecast for today which will lead to a rise in cooling demand.|
|Market Open||Market Open|
|Day-Ahead gas has posted further gains this morning as supply levels remain tight due to a 10mcm drop in Norwegian flows and a rise in exports. The front-month contract also posted a gain on the back of the weaker supply/ demand picture but the rest of the curve moved down and was dictated by falling oil prices and yesterday's announcement in regards to Rough.||Power contracts mirror the movement of gas this morning with the prompt and front-month contracts displaying a gain, while losses can be seen on the rest of the curve. A rise in demand has helped to support the day-ahead contract, while the news regarding gas storage has contributed to the bearish movement further out.|
Brent 1st-nearby prices have turned bearish following strong gains last week as it seems a freeze on output is unlikely, helping Brent fall to below $48.9/b this morning.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased - closing at 39.43ppt and £42.52/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