|Market Close||Market Close|
|The UK gas system was balanced yesterday despite a drop in LNG send-outs as the Bacton Seal terminal returned online which improved UK production; this helped contracts across the near-curve post losses. Contracts also softened further along the curve as oil and coal prices displayed a decrease.||Temperatures are expected to remain mild over the short term and wind generation is set to improve over the coming days, helping the prompt close at a discount on Monday. The losses filtered through to the rest of the curve with further downward pressure coming from a weaker gas market and falling Brent.|
|Market Open||Market Open|
|LNG send-outs are slightly higher this morning, demand levels are unchanged and other supply sources remain stable; resulting in a long UK gas system. This healthier supply picture has led to small losses across the near-curve, with a further drop in the price of Brent also weighing on the majority of contracts further out.||Consumption levels weakened yesterday and are generally unchanged today which has resulted in further losses on the power curve this morning. A healthier wind generation forecast for the rest of the week helped the prompt record a loss, while falling Brent continues to apply bearish pressure on the far-curve.|
Brent 1st-nearby prices have recorded another loss this morning as the monthly OPEC report shows that demand levels have fallen further in 2016 and a potential freeze deal looks unlikely.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased - closing at 29.40ppt and £34.23/MWh, respectively.
Today's prices can also be found in an easy to read table on our 'current UK energy price' page.
Click price graph to enlarge