|Market Close||Market Close|
|Gas prices shed from their price at the start of the session but recovered in the afternoon following a drop in North Sea production due to an unplanned outage which restricted flows at the St-Fergus terminal. Further support was also provided by a rise in oil prices, although upward movement at the front of the curve was restricted by healthy LNG send-outs, with numerous deliveries expected to dock in the UK.||The power curve displayed mixed changes yesterday with downward movement displayed at the front and gains recorded further out. Front-Month moved down on the back of a healthy LNG outlook, while an expected increase in wind generation today pressured down the prompt. Meanwhile, oil and coal markets moved higher and the Pound weakened against the Euro, supporting the far-curve.|
|Market Open||Market Open|
|Temperatures have been revised down for the end of this week and the start of the next which has helped to push near-curve contracts higher this morning. Low storage levels across Europe has also fuelled bullish movement on the curve, while UKCS production is lower than yesterday, resulting in a tighter system; the outlook for today remains stable-to-bullish.||Power prices have followed gas this morning with a cooler weather outlook for the next 7 days helping prompt contracts rally higher. Day-Ahead was the exception to the gains and decreased as a result of healthy wind generation. Upward movement on the far-curve is less noticeable on the back of stable coal and oil markets.|
Brent 1st-nearby prices trade above $56/b this morning with bullish sentiment provided by the latest IEA report, while attacks at oil terminals in eastern Libya have also offered support, with military counter attacks now expected.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased – closing at 45.33ppt and £44.93/MWh, respectively.
Today’s prices can also be found in an easy to read table on or ‘current UK energy price' page.
Click graph to enlarge
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