|The front of the gas curve moved down yesterday with losses on the power market a contributing factor. Improved power generation and a rise in temperatures was also expected to reduce gas demand today, further weighing on the prompt.
|An improved wind generation and milder weather forecast for today helped the Day-Ahead power contract decrease significantly in yesterday's session, with the rest of the near-curve also recording losses. The expected return of up to 7 nuclear power units in France this month also helped to apply additional bearish pressure to the curve.
|Prompt gas contracts have moved slightly higher this morning as colder weather is expected to return to the UK next week which will result in higher demand. Meanwhile, oil prices remain stable-to-bearish and have offered little support to the far-curve.
|Like gas, near-curve power contracts have been supported by a downward revision in next week's weather forecast. However, the rest of the curve displays losses as a number of nuclear reactors in France has restarted, while APi2 coal also displays a strong decrease.
Brent 1st-nearby prices has recorded another loss this morning as traders await further news in regards to the OPEC deal; Brent currently trades at $54.07/b.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased - closing at 42.75ppt and £43.54/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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