| Gas | Power |
| Market Close | Market Close |
| Outages continued to restrict supply levels in the UK yesterday, resulting in upward movement across the near-curve. A surge in coal and EUA carbon prices also helped contracts at the back of the curve move higher, although weaker Brent offered some resistance. | Power prices recovered from their morning’s losses following significant rebounds on coal and carbon markets. Weak renewable generation also offered support to prices at the front of the curve as additional gas-fired capacity is required. |
| Market Close | Market Close |
| The UK gas system remains short this morning and prompt gas prices display further gains. LDZ and CCGT demand are unchanged from yesterday but exports via the IUK interconnector are down, however, outages continue to limit flows from the UKCS. Brent displays a strong loss but bullish coal and carbon continue to fuel bullish sentiment at the back of the curve. | Sentiment on the power curve is unchanged this morning although the coal market has eased somewhat following strong gains. Gas and carbon markets continue to provide support, with some concerns regarding French nuclear availability also a factor. |
For a breakdown of the current generation mix visit our Power Generation Insights page.
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Brent Summary Brent displays another significant drop this morning with bearish pressure provided by rising US output. Meanwhile, traders await the next OPEC meeting in 17 days’ time with some rumours that production levels could rise. 1-year forward prices Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased – closing at 55.95ppt and £55.28/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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