| Gas | Power |
| Market Close | Market Close |
| Cold weather offset the effects of improved Norwegian supply yesterday; prices initially opened lower but these losses were erased as the session progressed. Brent and coal also posted further gains which contributed to gains further along the curve. | Coal and oil markets continued to rally higher yesterday, helping towards gains at the back of the power curve. The prompt moved higher as wind levels were set to be slightly weaker today, while a rise in heating demand influenced the rest of the near-curve. |
| Market Open | Market Open |
| Near-curve gas prices have been pressured higher by strong LDZ demand, caused by colder temperatures. A long system has helped to limit the gains, with a drop in exports to Europe contributing to the oversupply. Contracts on the far-curve also display small increases as the oil market remains bullish. | Strong heating demand and rising gas contracts have supported prices on the near-curve this morning. However, the prompt has recorded a loss as wind generation levels are forecast to improve tomorrow. Colder weather is expected for the next two weeks although forecasts for the middle of the month are milder. Further out, prices show some upward movement with support provided by rising Brent. |
For a breakdown of the current generation mix visit our Power Generation Insights page.
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Brent Summary Brent continues to display a bullish trend thanks to optimism of an extension to production cuts; Brent currently trades just below $61.6/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 46.93ppt and £46.05/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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