| Gas | Power |
| Market Close | Market Close |
| Gas contracts moved down on Friday as the Nord Stream interconnector returned online as seasonal maintenance was completed. In terms of the UK, healthy levels of wind power resulted in reduced coal-fired power generation, while UKCS production also improved, contributing to a long gas system. | Contracts on the power curve weakened on Friday with direction coming from losses on the gas market and a healthy renewable generation forecast. Coal and carbon emission contracts also decreased which helped to weigh on contracts further along the curve, while temperatures are expected to remain around the seasonal norm during September and a rise in heating demand is not expected. |
| Market Open | Market Open |
| The UK gas system has opened long this morning as Norwegian and UKCS flows are healthy; resulting in a loss on the prompt. However, movement on the rest of the curve is largely bullish as European supply has weakened slightly, despite the return of the Nord Stream on Friday. Meanwhile, an LNG delivery is expected to dock in the UK on the 25th of August which limited some of the upward movement. | Wind generation is expected to fall significantly compared to the weekend's levels which has resulted in strong upward movement on the prompt. The majority of contracts have found support from rising gas, although a drop in coal and oil restricted the bulls on the far-curve. |
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Brent Summary Brent 1st-nearby prices display a loss this morning following strong gains over the course of last week; Brent currently trades just below $50/b. 1-year forward prices Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased - closing at 40.40ppt and £43.08/MWh, respectively. Today's prices can also be found in an easy to read table on our 'current UK energy price' page. |
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