|Market Close||Market Close|
|Prices initially opened higher in the first trading session following the Christmas holidays as a colder weather forecast offered support to the near-curve. However, temperatures still remain mild for this time of year and supply levels were healthy which helped contracts to come down in the afternoon.||Power contracts were little changed from their closing prices before the Christmas period. Despite a colder weather forecast, an expected rise in wind generation for today helped the prompt to decrease, while the majority of contracts further along the curve were stable.|
|Market Open||Market Open|
|The UK gas system is short this morning as residential demand has inched higher due to a drop in temperatures. Despite this, contracts remain stable as the cold stint is expected to be short-lived and supply levels are also unchanged; Brent also remains low and continues to weigh on far-curve contracts.||A rise in industrial consumption has helped Day-Ahead power climb higher today, ignoring mild temperatures and steady wind production. Meanwhile, the rest of the curve displays downward movement due to a weaker demand picture and healthy generation levels.|
Brent 1st-nearby prices were generally stable over the holiday period and currently trade just above $37.2/b. An oversupplied market remains the main driver of prices but tensions between two of the world's largest oil producing nations, Iran and Saudi Arabia have offered support.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased - closing at 32.95ppt and £36.28/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