| Gas | Power |
| Market Close | Market Close |
| Near-curve gas prices moved down on the back of weaker demand levels, while storage levels were also at full capacity, adding to the bearish sentiment. Further out, contacts were generally stable despite another drop in oil and coal. | Power prices followed weaker oil, gas and carbon markets yesterday with the majority of contracts recording a loss. Wind levels were also expected to pick up today which weighed on the prompt, although a colder weather outlook offered some resistance on the near-curve. |
| Market Open | Market Open |
| The UK gas system is slightly undersupplied this morning despite lower exports to Belgium. The tighter system is down to a rise in demand and a slight reduction in flows. Despite this, most contracts have moved down, with coal, oil and carbon displaying further losses. | Power contracts continue to move down this morning with further weakening on gas, coal and carbon markets dictating the curve. However, the winter season has started and UK markets are expected to turn bullish over the coming weeks. |
For a breakdown of the current generation mix visit our Power Generation Insights page.
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Brent Summary Brent 1st-nearby prices display another decrease as fundamentals are unchanged following the return to full capacity in Saudi Arabia; Brent currently trades below $60/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 49.25ppt and £52.38/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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