| Gas | Power |
| Market Close | Market Close |
| CCGT generation was down yesterday but colder weather is expected to lift residential demand for the rest of the week, resulting in gains on the near gas curve. On the supply front, the system opened slightly long due to a rise in LNG flows following deliveries at Dragon and the Isle of Grain. Meanwhile, prices on the far-curve were stable-to-bearish as a result of weaker Brent. | Officials in France announced that the return of the Penly 1 reactor will be delayed until next month, helping towards gains on the power curve on Tuesday. High wind levels reduced the need for CCGT generation but a stronger demand forecast for today resulted in upward movement on the prompt. |
| Market Open | Market Open |
| Colder temperatures are expected at the end of the week and the start of the weekend but milder weather is forecast to return on Sunday and next week, which will reduce LDZ demand. However, a drop in Russian flows have supported European markets but oil prices continues to weaken, helping to cap some of the morning’s gain. | Healthy wind generation has halted some of the morning’s bullish momentum but French nuclear issues continue to lend strength to the curve. Units at Tricastin will be offline due to the implementation of safety measures, while Penly 1 will be unavailable throughout October. Further out, prices have climbed higher due to increases on the coal market. |
For a breakdown of the current generation mix visit our Power Generation Insights page.
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Brent Summary Brent continues to move down this morning due to a lack of bullish fundamentals, with low compliance in regards to OPEC production cuts the main market driver at present; Brent currently trades at $55.61/b. 1-year forward prices Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased – closing at 45.40ppt and £44.83/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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