| Gas | Power |
| Market Close | Market Close |
| Cold weather continued to support the gas curve yesterday as demand levels were above the seasonal norm. Rising coal prices also offered support to the far-curve in a bullish session. Temperatures are set to remain below average next week and the short-term LNG outlook is weak. | Higher heating demand and strengthening coal helped power contracts to increase on Wednesday. An improved wind outlook for today slightly weighed on the prompt, while a drop in oil prices provided some bearish resistance at the back of the curve. |
| Market Open | Market Open |
| Wind levels are expected to remain rather low over the next fortnight which will result in higher CCGT demand, helping towards gains this morning. However, the gains were limited by a long system as demand levels are currently around the seasonal average, despite cold temperatures. Meanwhile, upward movement further along the curve was capped by a drop in Brent. | A weak wind forecast has contributed to bullish movement on the near-curve this morning. Rising coal prices also continue to apply upward pressure to the curve, with stronger EUA contracts also a supportive factor. |
For a breakdown of the current generation mix visit our Power Generation Insights page.
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Brent Summary Brent 1st-nearby prices decreased yesterday following the release of EIA report which displayed some bearish figures, however, prices still remain above $60/b. 1-year forward prices Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 46.74ppt and £45.97/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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