|Gas prices eased down during Monday’s session, cancelling out gains recorded on Friday. Commodity markets moved down with the exception of coal which helped to weigh on prices across the curve, with a healthy supply outlook also a factor.
|Near-curve power prices strengthened slightly due to the colder weather outlook but movement was minimal. Meanwhile, a slight improvement in renewable availability was expected today which helped to weigh on the prompt, while weaker oil and carbon pressured down the far-curve.
|The system has returned to balance this morning despite the on-going outage in Norway which has restricted flows into the UK. Storage levels remain untouched despite increased residential demand but overall movement on the gas curve is bullish due to rising coal and carbon.
|Temperatures remain above the seasonal norm and milder weather should continue over the next week, capping upward movement on the near-curve. However, support has been provided by a rise in feedstocks, with coal and carbon also showing an increase.
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices have decreased by around 2% with bearish pressure provided by weak economic data in China which has reduced the likelihood of a trade deal with the US being agreed any time soon.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased – closing at 49.70ppt and £52.50/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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