12th April 2021 | Posted by: Daniel Birkett | Market Analysis

Gas Power
Market Close Market Close
Maintenance at facilities in the UKCS and expectations of cold weather over the weekend resulted in upward movement across the gas curve on Friday. Meanwhile, prices on the far curve were generally stable as movement on commodity markets was minor. Temperatures and wind levels were forecast to drop over the weekend and the start of this week, helping to lift the prompt and the rest of the near power curve during Friday’s session.
Market Open Market Open
Gas prices have opened at a premium this morning, particularly at the front of the curve with support provided by a short system as demand has increased and UKCS flows remain limited. Power prices follow gas and trade higher this morning, colder temperatures are lifting demand levels across the country and tightening supply. Wind generation is also low, putting further strain on the gas system.

For a breakdown of the current generation mix visit our Power Generation Insights page.

Brent Summary

Brent Crude displays a small loss this morning as the demand picture for the summer months is still unclear as many countries still impose a number of restrictions on businesses and travel.

1-year forward prices

Market close data has revealed that the 1-year forward price for commercial gas decreased slightly, while commercial electricity recorded a gain, closing at 48.99ppt and £59.56/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

energy price graph - 12-04-2021

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