| Gas | Power |
| Market Close | Market Close |
| Day-Ahead gas decreased during yesterday's session due to a heavily oversupplied system following a rise in Norwegian flows via the Langeled pipeline and higher UKCS production. Meanwhile, stronger wind power resulted in a decrease in gas-fired generation, reducing demand. Losses were evident across the near-curve but contracts further out found support from an increase in Brent. | Healthy wind generation and bearish movement on the gas-curve helped Day-Ahead power record a strong loss yesterday. Contracts across the near-curve tracked the downward movement of their gas counterparts, while rising Brent helped towards gains further out. |
| Market Open | Market Open |
| Demand for gas-fired power generation has reduced once again this morning following another increase in wind levels, while UKCS flows have also improved and the UK gas system remains well-supplied. Mild temperatures and a further increase in supply levels are expected next week which should help prompt contracts move down throughout today's session. | Near-curve power contracts have been pushed higher by increases on the oil market this morning, while the far-curve is generally stable on the back of a healthy supply outlook. Meanwhile, temperatures are expected to be above the seasonal norm next week which could result in higher consumption, providing further support to the prompt. |
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Brent Summary Brent 1st-nearby prices continue to climb higher and have rose to above $49.4/b this morning following the release of latest stock figures which showed the largest drop for crude inventories since 1999. 1-year forward prices Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased slightly - closing at 36.98ppt and £41.19/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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