| Gas | Power |
| Market Close | Market Close |
| Healthy supply levels helped to pressure down near-curve gas contracts on Friday, while prices further along the curve were more resilient. A weaker Pound offered some support to contracts but stronger LNG send-outs and a milder weather outlook remained the main market drivers. | Power prices were pressured down by weaker gas and coal markets, with a mild weather outlook continuing to dictate contracts at the front of the curve. Oil prices were generally stable and failed to offer much support on the far-curve, while sanctions in China weighed on coal. |
| Market Open | Market Open |
| Above average temperatures are expected over the coming days which has resulted in further downward movement at the front of the curve this morning. Norwegian flows are 10mcm higher than last week, resulting in a comfortable system with another increase in LNG send-outs leading to higher exports to Belgium. | Power contracts continue to follow the gas market this morning with downward pressure coming from the forecast of warmer weather over the next fortnight. Wind levels are also expected to improve this week, further weighing on the prompt. |
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Brent Summary Brent 1st-nearby prices display a small increase this morning despite an announcement in Moscow at the end of last week which confirmed that Russian output is unchanged from January, casting some doubt on the nation’s commitment to production cuts. 1-year forward prices Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 44.30ppt and £44.37/MWh, respectively. Today’s prices can also be found in an easy to read table on or ‘current UK energy price' page. |
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