14th May 2021 | Posted by: Daniel Birkett | Market Analysis

Gas Power
Market Close Market Close
The upward trajectory on the overall energy complex calmed yesterday, with both carbon and oil markets retracting some of their gains. This impacted the gas market and the majority of prices moved down despite high demand and tight supply. Power markets remained slightly bullish but any gains were insignificant due to bearish movement on gas, oil and carbon markets. The prompt was the only contract to record a strong gain due to very low wind levels.
Market Open Market Open
Gas prices have opened higher this morning following another upturn on carbon markets. The system is 15mcm long, helped by improved Langeled flows, limiting upward movement on the near curve. However, demand is expected to remain high for the rest of the month with a forecast for cooler weather. Power contracts have increased this morning, with the exception of the prompt which has been pressured down by an improved renewable generation outlook for the weekend. The rest of the curve has followed rising carbon markets. 

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

Brent Summary

Brent Crude displays a minor loss as reports of the Indian variant making its way to the UK and Russia have increased concerns.

1-year forward prices

Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased, closing at 62.66ppt and £73.31/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 - 14-05-2021

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