|Market Close||Market Close|
|Gas contracts displayed mixed movement yesterday with a short UK gas system helping towards gains on the near-curve and falling oil weighing on prices further out. Cooler temperatures are expected to lift temperatures today and over the weekend which provided further upward pressure on prompt prices.||Falling gas helped to pressure down power contracts yesterday as oil and coal prices weakened. Weak wind generation limited downward movement on the prompt, while temperatures dropped to around the seasonal norm, leading to a slight uptick in demand.|
|Market Open||Market Open|
|Norwegian flows have increased this morning which has helped to balance the system, resulting in bearish movement on the near gas curve. Further out, prices have recorded losses with falling oil continuing to act as the main market driver.||Further downward movement is evident across the power curve this morning as temperatures are expected to return to above the seasonal norm at the weekend. The warmer weather will reduce residential consumption and combined with the usual drop in industrial demand on Fridays, near-curve contracts have moved down. Contracts further along the curve have followed their weaker gas counterparts and also shed from their price.|
Brent 1st-nearby prices decreased on Thursday following a series of bullish sessions and currently trade at $51.37/b; a rebound in the US Dollar is the main factor behind this drop in price with overall fundamentals generally stable.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased - closing at 37.93ppt and £40.11/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