| Gas | Power |
| Market Close | Market Close |
| Gas prices moved down on Friday following bullish movement in the previous three sessions, ahead of the expiry of some near-curve contracts. Prices took direction from warmer temperatures which weighed on demand levels over the weekend and today, while the supply outlook was also improved. | Power prices added to their price on Friday with strengthening fuel markets offering support to the bulls. However, the gains were not significant with a warm weather outlook and a recovering Pound offering some resistance. |
| Market Open | Market Open |
| Gas prices are relatively stable this morning despite the start of new contracts as Norwegian supply has ramped up and LNG send-outs have increased by 15mcm compared to Friday. However, bearish movement further along the curve was restricted by strengthening Brent. | Power contracts have increased this morning with direction coming from rising coal and oil markets. Coal prices have increased due to production cuts in South Africa, while oil is dictated by global oversupply. A warmer weather outlook has helped to cap the gains at the front of the curve but the outlook remains bullish nonetheless. |
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 climbed above $53/b on the back of optimism in regards to an extension of OPEC production cuts. On Sunday, the OPEC Secretary General claimed that the OPEC strategy was working, with stock levels slowly coming down. 1-year forward prices Market close data has revealed that the 1-year forward price for commercial gas increased, while commercial electricity recorded a loss – closing at 43.83ppt and £42.96/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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