|Market Close||Market Close|
|The outage at the Oseberg gas field offered support in the morning but the UK gas system remained comfortable throughout the session and near curve prices eased down. Meanwhile, commodities offered bullish resistance towards the back of the curve.||Wind generation was expected to hold similar levels today, while solar availability was forecast to improve, helping the prompt shed from its price. The rest of the near curve followed gas and moved down thanks to the prolonged period of mild weather.|
|Market Open||Market Open|
|Demand levels are 97mcm below the seasonal norm this morning, as a result of a strong increase in wind & solar levels and continued mild weather; this has resulted in losses across the near curve. Further out, prices are more resilient due to strengthening coal and oil.||Power prices have moved down as strong renewable generation has reduced gas-fired power demand. The weather is also unseasonably mild, resulting in lower heating demand. However, some gains are displayed towards the back of the curve due to a rise in global markets.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices display a minor gain as sentiment is unchanged and markets take support from progress in regard to a COVID-19 vaccine.
1-year forward prices
Market close data has revealed that the 1-year forward price for commercial gas increased slightly, while commercial electricity moved down, closing at 38.62ppt and £46.68/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
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