| Gas | Power |
| 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. |
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Brent Summary 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. |
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