|Market Close||Market Close|
|Low wind production resulted in a rise in gas-fired power generation on Tuesday which lifted demand levels, leading to a series of gains across the near gas curve. However, contracts further along the curve continued to soften with a bearish oil market the main influencing factor.||Day-Ahead power displayed a loss on Tuesday on the back of a milder weather forecast which will weigh on consumption levels, while wind generation is also set to improve over the coming days. The majority of contracts further along the curve moved higher and were influenced by a rising gas market.|
|Market Open||Market Open|
|The UK gas system has opened short this morning as LNG send-outs have decreased and demand levels have lifted slightly, while UK gas production also remains low. This weaker supply/ demand outlook has supported contracts across the gas curve, with a small rebound in Brent also contributing to the gains.||Movement on the power curve is rather stable this morning with improved wind levels and comfortable demand offsetting the effects of higher gas contracts. Meanwhile, a rebound in coal and oil contracts has limited any downward movement further along the curve.|
Brent 1st-nearby prices moved down yesterday but have recovered slightly this morning to trade just below $39.3/b. Market sentiment remains rather bearish with today's EIA reports expected to weigh on oil prices further.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased - closing at 30.23ppt and £34.53/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