|Market Close||Market Close|
|Gas prices moved down throughout Friday’s session with bearish pressure provided by a drop in coal and oil. A number of contacts were due to expire and closed at a discount, while the supply/ demand outlook for this week is healthier, weighing on the prompt.||Power prices were dictated by weaker gas, carbon and oil markets, with coal the exception to the bearish trend. Wind levels were expected to pick up over the weekend and remain strong today which helped the prompt record a loss.|
|Market Open||Market Open|
|The UK gas system is oversupplied this morning despite on-going maintenance in Norway. LNG-send-outs are up slightly but exports to Asia are set to rise which has offered some support to the near-curve. Meanwhile, the far-curve has been pushed higher by rising coal, carbon and oil.||Cooler weather is expected across Europe this week and wind levels are healthy, resulting in downward movement at the front of the curve. Further out, prices are trading slightly higher with support provided by rising coal and carbon.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices decreased on Friday but display a slight rebound this morning as OPEC members have agreed to extend production cuts until the end of 2019.
1-year forward prices
Market close data has revealed that the 1-year forward price for commercial gas increased slightly, while commercial electricity recorded a loss – closing at 47.50ppt and £52.23/MWh, respectively.
Today’s prices can also be found in an easy to read table on our ‘current UK energy price' page.