|Market Close||Market Close|
|Day-Ahead gas displayed an increase yesterday afternoon following an outage at the Rough storage facility which tightened the UK gas system. However, the overall supply picture remained comfortable which helped the rest of the near-curve display losses. Downward movement further along the curve was slightly restricted by stronger Brent.||Most power contracts displayed sizeable losses on Thursday on the back of an improved demand outlook. A stronger wind generation forecast for today and an upward revision in temperatures for next week helped the prompt shed from its price, which also filtered through to the rest of the near-curve.|
|Market Open||Market Open|
|The UK gas system remains short this morning as UKCS flows declined due to maintenance, while demand levels are also unchanged due to below average temperatures; resulting in gains on the prompt. Meanwhile, the rest of the curve continues to move down due to next week's milder weather outlook.||Wind generation is expected to drop by around 3GW on Monday which has led to a significant gain for Day-Ahead power. Meanwhile, next week's milder weather has continued to weigh on the rest of the curve, although rising Brent and coal offered some upward pressure.|
Brent 1st-nearby prices have displayed a small increase this morning and have risen by $4.3/b since the 24th February. The markets remain optimistic on the back of the potential freeze deal between oil producing nations.
1-year forward prices
Market close data has revealed that the 1-year forward price for commercial gas decreased, while commercial electricity moved higher - closing at 30.01ppt and £34.60/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