| Gas | Power |
| Market Close | Market Close |
| Gas prices strengthened throughout yesterday’s session as it was confirmed that some constraints would be placed on production at the Groningen facility in Holland. An expected drop in temperatures today and low wind levels also offered further support at the front of the curve, while rising Brent provided bullish pressure on the far-curve. | Power prices followed the gas market yesterday with near-curve prices displaying gains on the back of weak wind generation and an expected rise in heating demand over the next few days. Further out, a drop in coal helped to offset the effects of stronger Brent. |
| Market Close | Market Close |
| Temperatures forecasts for later in the month have been revised down, helping prices on the near-curve move higher. Low wind has contributed to high CCGT demand but levels are set to improve tomorrow, weighing on the prompt. In terms of supply, the system is 20mcm long as UKCS production has increased and flows via the IUK and BBL pipelines remain healthy. | An expected drop in temperatures next week has contributed to gains at the front of the power curve this morning, although an improved wind generation forecast for the weekend has helped the prompt record a strong loss. Meanwhile, coal continues to weaken, although the oil market moves in the opposite direction negating its impact on the far-curve. |
For a breakdown of the current generation mix visit our Power Generation Insights page.
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Brent Summary Brent 1st-nearby prices have increased further and now trade above $69.5 with support provided by the latest EIA report which provided further evidence of a drop in US production. 1-year forward prices Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased – closing at 50.13ppt and £48.34/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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