| Gas | Power |
| Market Close | Market Close |
| Gas prices displayed mixed movement during Tuesday's session as demand levels decreased on the back of milder temperatures and Norwegian flows improved. However, concerns regarding the situation between Russian and Turkey have caused some market uncertainty. Ukraine also missed a pre-payment for future gas imports from Russia and supply into the country is set to be halted as a result. | The union strike in France ended yesterday which brought around 6GW of capacity back online, providing some bearish pressure on the near power curve. Above average temperatures also reduced consumption in the UK with mild weather expected to last until the end of the month at least. |
| Market Open | Market Open |
| Norwegian flows continued to increase this morning and demand levels remain low which has helped to weigh on some near-curve gas prices. On-going political tensions continue to restrict downward movement on the prompt, while stronger Brent has led to some gains on the far-curve. | Day-Ahead power climbed higher this morning with wind generation expected to drop across Europe tomorrow. Weaker consumption helped to restrict the gains on the near-curve but rising coal and oil contracts resulted in some upward movement on the far-curve. |
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Brent Summary Brent 1st-nearby prices climbed higher with influence coming from tensions in the Middle East after a Russian warplane was brought down by Turkey on the Syrian border; Brent currently trades at $45.63/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 37.18ppt and £39.23/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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