| Gas | Power |
| Market Close | Market Close |
| Gas prices climbed higher during Monday’s session with a short system offering support to the front of the curve. Meanwhile, the back of the curve was pushed higher by coal and carbon markets, while a delay to the Brexit vote caused the Pound to fall, providing additional bullish pressure. | Power prices were on the rise on Monday, with support provided by an increase in coal, gas, carbon and biomass feedstocks. A weaker Pound helped the UK market increase more than its European counterparts. |
| Market Open | Market Open |
| The UK gas system has opened oversupplied this morning thanks to improved Norwegian flows, while storage levels show an increase during December; this has restricted upward movement on the near-curve. Further out, prices are generally flat with a drop in oil offsetting a rise in coal. | Power prices are little changed from the end of yesterday’s session, with the exception of the prompt and some near-curve contracts which have been pressured down by a weaker demand outlook. |
For a breakdown of the current generation mix visit our Power Generation Insights page.
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Brent Summary Brent 1st-nearby prices display a sharp loss as the effects of the recent OPEC announcement were very short-lived. Brent has fallen back to around $59.8/b as there are doubts whether the production cuts can be fully implemented, with further bearish pressure provided by a rise in US output and a weak demand forecast for crude oil. 1-year forward prices Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased – closing at 60.55ppt and £60.24/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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