|Market Close||Market Close|
|A drop in carbon prices and improved flows from Norway following the end of maintenance helped gas prices move down across the curve yesterday. Improved Russian flows into Europe were also a bearish factor, with a milder weather forecast also contributing to a loss on the prompt.||Power contracts decreased on Wednesday with direction coming from weaker coal, carbon and gas prices. The prompt move down as an increase in solar was expected to make up for a drop in wind levels today. The oil market was one of the few exceptions to the bearish trend.|
|Market Open||Market Open|
|The system has opened short this morning which has limited losses at the front of the curve. However, warmer weather is expected next week, in addition to stronger wind levels, helping towards bearish movement. Coal and carbon have stabilised, while oil displays a small increase, resulting in minor changes at the back of the curve.||Fuel markets have stabilised somewhat and have provided little direction to the power curve this morning, resulting in some upward movement. A milder weather outlook and a healthier renewable generation forecast have helped the prompt shed from its price.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent displays a small gain this morning as contrasting fundamentals restricted the market yesterday. A bearish OPEC forecast was offset by a tighter supply outlook and an approaching storm in the US which could disrupt oil production.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & while commercial electricity decreased – closing at 69.55ppt and £67.13/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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