|Market Close||Market Close|
|A stronger demand forecast for today helped near curve gas contracts trade higher, with colder weather and weaker wind levels expected to result in undersupply. Meanwhile, oil and carbon markets strengthened, lifting the far curve.||Power contracts tracked their gas counterparts and displayed gains across the curve. Reduced gas supply, weaker renewable power availability and bullish fuel markets all dictated the curve.|
|Market Open||Market Open|
|Gas prices continue to move higher this morning as colder weather has sent the system short, with reduced LNG send-outs also tightening supply. Additional support is also provided by global commodities which continue to strengthen on the back of eased lockdowns in Europe and the US.||Wind levels have dropped which has increased gas-fired power demand and offered support to the front of the curve this morning. Sentiment is little changed from yesterday, with recovering commodities creating a bullish trend this week.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent Crude displays a minor increase as it struggles to break the $70/b barrier despite lower than expected Crude oil stocks in the US.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased, closing at 58.36ppt and £67.53/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