| Gas | Power |
| Market Close | Market Close |
| An oversupplied system and a weaker demand forecast for the end of the week resulted in losses along the gas curve on Tuesday, although fuel markets continued to strengthen, limiting some losses on longer dated contracts. | An expected drop in wind levels today helped the prompt trade higher on Tuesday, however, the rest of the near curve followed gas and traded lower. Comfortable supply contributed losses, with rising oil having minimal input on power prices. |
| Market Open | Market Open |
| The UK gas system remains over 20mcm long despite cold weather as imports into the UK are healthy, in addition to an increase in LNG send-outs. This has resulted in further losses across the near gas curve, with milder weather also forecast for next week, weighing on demand. | Sentiment on the power curve is little changed from yesterday with bearish fundamentals weighing on spot prices as the nation copes well with the current high demand. Further out, rising coal, carbon and oil offers resistance but today’s moves on commodity markets have not been significant. |
For a breakdown of the current generation mix visit our Power Generation Insights page.
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Brent Summary Brent Crude has climbed back to pre-pandemic levels with continued optimism regarding the impact of the global vaccine rollout and a return to relative normality in 2021. 1-year forward prices Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased, closing at 48.51ppt and £57.45/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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