| Gas | Power |
| Market Close | Market Close |
| Gas prices posted losses yesterday afternoon as a result of an oversupplied system and falling Brent. Planned maintenance in Norway failed to support the prompt, with a milder weather forecast for today and an expected drop in gas-fired power generation providing downward pressure. | Norwegian imports are 25mcm down compared to previous sessions due to planned outages, however, the UK gas system remains well supplied thanks to lower CCGT demand on the back of stronger wind generation; mild temperatures have also weighed on residential demand today. Further out contracts continue to take direction from weakening oil prices, with coal also posting a strong loss. |
| Market Close | Market Close |
| Sentiment on the power curve was mixed on Wednesday with near-curve contracts climbing higher due to on-going supply concerns over the winter period as a result of nuclear reactor shutdowns in France. Further out, contracts took direction from weaker gas prices and falling oil. | APi2 coal displays a strong loss this morning which has helped toward losses on the far power curve. In contrast, the front of the curve is bullish with supply concerns the main market driver. Temperatures are expected to remain mild next week but this did little to restrict upward movement on the near-curve. |
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Brent Summary Brent 1st-nearby prices have posted further losses today, a rebound occurred yesterday when the US inventory report was released but a downward correction soon followed; prices sit just above $50/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 46.37ppt and £47.77/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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