|Market Close||Market Close|
|A drop in wind levels and an expected reduction in Norwegian flows into the UK offered support to near curve gas prices yesterday afternoon. Meanwhile, weakening commodity markets helped to weigh on contracts further along the curve.||Movement along the power curve varied on Tuesday, with the prompt adding to its price on the back of an expected drop in wind generation today. A colder weather outlook offered support to the rest of the near curve, while longer dated contracts followed falling commodities.|
|Market Open||Market Open|
|Gas prices have decreased this morning, following the overall energy and commodity complex. Movement on the near curve was bearish despite a short system, with maintenance at Kollsnes, taking 15mcm of Norwegian capacity offline.||Improved wind generation levels have reduced gas-fired power demand to 25mcm, helping to weigh on the prompt and the rest of the curve. However, temperatures are expected to turn colder next week, limiting any losses.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices display a slight rebound but overall sentiment remains weak as Libyan production has increased and oil facilities on the Gulf of Mexico are set to be unaffected by Hurricane Zeta.
1-year forward prices
Market close data has revealed that the 1-year forward price for commercial gas recorded a minor gain, while commercial electricity decreased, closing at 39.33ppt and £46.48/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
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