| Gas | Power |
| Market Close | Market Close |
| The first day of summer trading saw numerous losses on the gas curve yesterday, with an oversupplied system weighing on spot prices. A healthy LNG outlook provided additional bearish pressure, although a rise in oil markets limited downward movement further out. | Power prices traded down on Monday with direction provided by weaker coal and gas markets, ignoring a slight rise in carbon and bullish oil. An expected drop in renewables today offered support to the prompt but a warmer weather forecast weighed on the rest of the near-curve. |
| Market Close | Market Close |
| The UK gas system remains long this morning despite a slight drop in Norwegian and Russian flows into Europe. Near-curve gas prices display further losses on the back of this oversupply, with milder weather and stronger LNG send-outs also expected this week. | Coal and gas markets continue to decrease this morning which has resulted in further losses on the power curve, while carbon contracts have also weakened. The short term supply/ demand outlook is comfortable which also assisted the bears. |
For a breakdown of the current generation mix visit our Power Generation Insights page.
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Brent Summary Brent 1st-nearby prices have increased by around $1.4/b since yesterday’s open as OPEC production figures for March provided strong support, with on-going problems in Venezuela and potential sanctions on Iran also bullish factors. 1-year forward prices Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 46.69ppt and £50.20/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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