Gas | Power |
Market Close | Market Close |
Gas prices posted additional gains yesterday, supported by unplanned outages on Norwegian supply that left the system undersupplied, and the rise in the oil price. This was despite lower demand as warmer temperatures were forecasted. | Curve prices strengthened yesterday, tracking higher fuel costs. Coal and carbon prices were also bullish as a result. Stronger solar generation was forecasted which saw bearish movement on the day-ahead price. Short-term demand was lower as temperatures were expected to be higher. |
Market Open | Market Open |
Gains from yesterday's bullish session haven't been fully recovered this morning. Supply from Norway could remain disrupted as maintenance work is planned to start at the Kollsnes processing plant. This could continue to tighten gas balances and support near-curve prices. Forecasted warmer temperatures continue to contribute to the downward momentum. | Power prices have risen from yesterday's open this morning, however we are seeing recovery from the prices that power closed at. Hopefully the recovery will continue today following the oil prices reducing and warmer temperatures in the UK. |
Brent Summary
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