|Market Close||Market Close|
|Gas price stabilised yesterday afternoon as a slight drop in demand levels was forecast for today. However, short-term forecasts point to below average temperatures and safety checks at French nuclear facilities provide on-going support to both markets. Further out, a drop in coal prices helped to weigh on some contracts despite another rebound on the oil market.||An expected rise in wind generation today helped Day-Ahead power move down yesterday but the rest of the near-curve was supported by a cold weather outlook. French nuclear delays remained a supportive factor, while the far-curve was pushed higher by a late surge in oil prices.|
|Market Open||Market Open|
|Cold weather is expected at the start of next week which will increase LDZ demand, helping towards gains on the near curve this morning. Delays at French nuclear units are also a factor behind any upward movement. The gains were slightly limited by a drop in demand today and a long system, while oil has decreased following strong gains yesterday evening.||Temperatures are milder today, reducing heating demand but this is expected to be short-lived with cold weather forecast for next week. Gains can be seen across the near-curve, with rising gas supporting their power counterparts, while weaker coal prices have done little to quell upward movement at the back of the curve.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices climbed to $64.6/b yesterday, a new 2.5 year high but have corrected down this morning to trade below $63.5/b. The market remains very bullish but yesterday’s EIA report displayed unexpectedly bearish data and helped prices move down.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased – closing at 48.40ppt and £47.19/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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