9th April 2021 | Posted by: Daniel Birkett | Market Analysis

Gas Power
Market Close Market Close
The colder weather outlook helped towards gains on the near gas curve yesterday, although expected LNG deliveries helped to limit the upward movement. Further out, prices were generally stable as carbon markets eased down following strong gains in the previous session. Colder temperatures are expected to lift demand levels over the next 7 days or so, helping spot prices move higher. A weaker wind generation forecast for today and over the weekend also helped the prompt add to its price.
Market Open Market Open
Gas prices are trading higher this morning as production in the UKCS is down by around 50% as bad weather delayed planned maintenance. This has resulted in weaker flows into the UK, offering support to prices, combined with a higher demand outlook. Sentiment on power markets is unchanged this morning with the majority of prices displaying an increase. Cold weather, reduced wind availability and tighter gas supply have all added to the bullish sentiment.

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

Brent Summary

Brent Crude is stable-to-bearish at the moment as uncertainty regarding demand forecasts has prevented any major moves in either direction.

1-year forward prices

Market close data has revealed that the 1-year forward price for commercial gas decreased slightly, while commercial electricity recorded a gain, closing at 49.08ppt and £59.50/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 - 09-04-2021

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