| Gas | Power |
| Market Close | Market Close |
| Gas contracts displayed mixed movement on Tuesday with the prompt adding to its price later in the session, while the far-curve displayed numerous losses. The UK gas system was short throughout the day which helped near-curve contracts move higher, while stable Brent helped contracts further out decrease. | The majority of power contracts decreased yesterday and tracked the movement of falling gas, with little support provided by the oil and coal markets. A healthy renewable generation forecast for today helped the day-Ahead contract shed from its price, although warm weather could result in a rise in consumption levels. |
| Market Open | Market Open |
| UKCS production continues to show an improvement this morning following Monday's outages, while Norwegian flows are also higher. The UK gas system is oversupplied as a result of this increase in flows, helped by weaker demand and the prompt has displayed a strong loss as a result. Movement further along the curve is generally stable with a rebound in oil prices offering some support. | Movement on the power curve is varied this morning with the Day-Ahead contract shedding from its price, while the far-curve is supported by volatile Brent. The prompt followed its gas counterpart which weakened on the back of an improved supply picture. |
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Brent Summary Brent 1st-nearby prices posted a small gain yesterday in a generally quiet session of trading with a weaker US Dollar the main factor behind this increase. 1-year forward prices Market close data has revealed that the 1-year forward price for commercial gas rose, while commercial electricity increased slightly - closing at 37.04ppt and £41.27/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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