|Market Close||Market Close|
|Gas prices dropped to a seasonal low on Friday on the back of warm temperatures and news of multiple LNG deliveries over the coming week. Demand remained low on Friday, especially residential demand which was 26mcm below seasonal norms, adding further bearish pressure to NBP spot prices which closed at their lowest mark since August.||The power curve recorded losses on Friday as temperatures remained above the seasonal average. Renewable output was limited though which prevented any significant losses from weaker gas prices.|
|Market Open||Market Open|
|Day Ahead gas contracts dropped below 37p/th this morning as temperatures are forecast to remain above the seasonal norm this week. An increase in Norwegian flows as well as the expected arrival of four LNG tankers in Britain also helped weigh down prices||Power prices followed their gas counterparts this morning as mild temperatures and ample LNG supplies weighed down on the curve. Wind generation is expected to increase this week, giving further support to the downward correction of the power contracts.|
Brent 1st-nearby prices continued to rise this morning to $49.5/b, though there is still no clear direction within the market. Prices are expected to remain stable today and should not reach the $50/b benchmark.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased - closing at 38.28ppt and £40.18/MWh, respectively.
Today's prices can also be found in an easy to read table on our 'current UK energy price' page.
Click to enlarge graph