8th April 2021 | Posted by: Daniel Birkett | Market Analysis

Gas Power
Market Close Market Close
Gas prices eased down yesterday as the system remained long and three LNG cargoes were scheduled to dock in the UK today. Meanwhile, a slight rebound on oil markets provided some upward pressure towards the back of the curve. A slight rise in temperatures and wind levels was forecast for today, helping to weigh on Day-Ahead power yesterday, although temperatures are expected to remain below the seasonal norm over the next two weeks.
Market Open Market Open
The gas curve is rather flat this morning, although a high demand outlook has helped to lift some prices on the spot, including the prompt. Far-curve contracts are generally stable as there have been no major moves on commodity markets. A weaker wind outlook and a cooler weather forecast has contributed to gains on the prompt and the rest of the near curve this morning. Meanwhile, coal and carbon markets have retraced some of yesterday’s upward movement.

For a breakdown of the current generation mix visit our Power Generation Insights page.

Brent Summary

Brent Crude displays another small increase due to hopes that demand for oil will grow over the summer months. Brent currently trades around $63.2/b.

1-year forward prices

Market close data has revealed that the 1-year forward price for commercial gas decreased, while commercial electricity recorded a gain, closing at 49.12ppt and £59.29/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

energy price graph - 08-04-2021

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