|Market Close||Market Close|
|Gas prices found bearish resistance from a fall in oil, coal and carbon on Friday, despite opening the session higher. The system was long throughout the session but an expected drop in renewables over the weekend offered some support to the prompt.||Power prices displayed mixed movement at the end of last week, despite weakening on commodity markets. The majority of losses were seen towards the back of the curve, while an expected drop in renewables helped the prompt move higher.|
|Market Open||Market Open|
|Gas prices continue to soften this morning as oil displays another decrease. Meanwhile, coal, carbon and power markets are stable-to-bullish but have had little impact on gas. Gas-fired power demand has ramped up slightly today as wind generation has dropped since Friday.||Power prices have followed gas and trade slightly lower, while the rest of the energy complex is failing to show a clear direction. Demand for gas-fired power is slightly higher as forecast and the energy mix is not expected to show significant changes this week.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices fell by 5.3% on Friday and trade below $42.7/b this morning. There was no specific reason behind the drop but it is thought support provided last month was based on assumptions rather than data.
1-year forward prices
Market close data has revealed that the 1-year forward price for commercial gas decreased, while commercial electricity recorded a small gain, closing at 35.95ppt and £47.67/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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