|Gas prices inched higher on Wednesday, with the front of the curve supported by an undersupplied system due to increased gas-fired power demand. Meanwhile, the overall energy complex was generally stable compared to previous sessions.
|Power prices followed the gas market and increased yesterday, with a drop in wind levels resulting in a higher reliance on gas-fired power. A warm weather forecast helped to limit the gains, while commodity markets were flat.
|The system has opened balanced this morning as warm weather has reduced residential demand. Gas prices are little changed from yesterdays gains, with little direction provided by commodity markets.
|Oil and carbon have opened slightly down, coal displays a small gain, while gas is stable, resulting in a quiet opening to this morning’s session.
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices ended their 5-day bullish trend and traded lower yesterday. Despite production cuts, the global supply glut remains the biggest overall factor for traders.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased – closing at 30.99ppt and £38.98/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
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