|Market Close||Market Close|
|Gas prices moved down on Friday due to a weak demand forecast, as mild temperatures and healthy wind levels were expected this week which will pressure down both LDZ and CCGT demand. Further out, stable coal and carbon markets offered resistance but overall movement remained bearish.||Near-curve power prices moved down on Friday as wind generation remained healthy and milder weather should reduce heating demand. Falling gas prices were also a factor behind the losses, while fuel markets were mostly stable and had little impact.|
|Market Open||Market Open|
|A rise in oil markets over the weekend has offered support to gas contracts this morning, with OPEC and Russia agreeing to continue their co-operation pact which should lead to additional production cuts. The system has also opened close to balance, helping towards some gains at the front of the curve.||Power prices have increased this morning due to a bullish shift in global politics following the latest G20 meeting which saw major announcements from OPEC, Russia, Qatar and Canada in regards to oil. Tensions between the US and China also eased which supported commodities, with a downward revision in temperatures also adding to the bullish sentiment.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices have moved down this morning, erasing some of the gains displayed over the weekend. Bullish pressure was provided by a positive G20 summit which resulted in a temporary deal between the US and China. Meanwhile, Qatar confirmed that it would be leaving OPEC in 2019.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity moved higher – closing at 61.25ppt and £60.35/MWh, respectively.
Today’s prices can also be found in an easy to read table on our ‘current UK energy price' page.
Click graph to enlarge
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