|Market Close||Market close|
|Strong residential demand and a rise in CCGT generation supported gas contracts on Thursday despite improved supply levels which resulted in a long system. Bullish pressure was provided by higher power and carbon contracts, while oil and coal were generally stable.||A strengthening carbon market helped power contracts move higher yesterday, with an expected drop in wind generation over the weekend providing additional support to the prompt. Solar levels were expected to fluctuate over the next fortnight, while Brent and coal stabilised.|
|Market Open||Market Open|
|An upturn in temperatures should result in a drop in LDZ demand over the weekend and next week, helping to weigh on the near gas curve. The system has also opened 11mcm long as UKCS production and Langeled flows have increased. Meanwhile, the Pound continues to strengthen against the Euro and oil prices have dropped slightly, adding to the bearish sentiment across the curve.||Power prices have followed gas and moved down this morning, with an upward revision in wind levels for next week helping to weigh on the prompt; solar power is also set to improve over the weekend. Contracts further along the curve have also decreased with oil and coal markets failing to offer any support.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent displays a small loss this morning but is on course to display a weekly gain on the back of a stronger demand forecast for crude.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 46.32ppt and £47.06/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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