|Market Close||Market Close|
|Near curve gas prices decreased yesterday as temperatures across Europe are set to turn milder next week which will reduce demand levels. However, the losses were smaller than previous sessions as demand was set to peak today and UKCS and Norwegian flows were limited by unplanned outages, while coal and gas markets also ticked higher.||Temperatures for the rest of February and the start of March have been revised significantly higher, resulting in more losses across the near gas curve this morning. However, further gains for oil and coal contracts have limited the downward movement at the back of the curve.|
|Market Open||Market Open|
|A milder weather outlook continued to pressure down power prices on Thursday, although weak renewable generation should result in an increase in CCGT generation, restricting the bears somewhat. A drop in coal and oil also offered resistance on the far-curve and movement was minimal.||Movement on the power curve is mixed this morning although the majority of contracts have shed from their price with direction coming from weaker gas. An increase in Brent offered some support on the far-curve, while a low wind generation forecast for next week limited some of the losses on the prompt.|
Brent 1st-nearby prices were generally stable on Thursday as the market awaits the release of the latest IEA and OPEC monthly reports; Brent currently trades just above $55.6/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 47.75ppt and £46.34/MWh, respectively.
Today’s prices can also be found in an easy to read table on or ‘current UK energy price' page.
Click graph to enlarge
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