| Gas | Power |
| Market Close | Market Close |
| Strong demand helped to lift contracts across the near gas curve yesterday, while a rise in oil markets offered support to the rest of the curve. The prompt also found support from weak renewable levels and a cold weather forecast for today and over the weekend. | The front of the power curve was lifted by weak wind generation over the next few days, with a tightening of the gas system also helping towards gains on the spot. Further out, contracts followed a rebound in commodity markets. |
| Market Open | Market Open |
| The UK gas system has opened 5cm long this morning, while temperatures are set to turn slightly milder next week which will weigh on heating demand. However, weak renewable generation is expected over the weekend, limiting bearish movement at the front of the curve. | Low renewable levels are forecast for the weekend but will pick up strongly next week, helping the prompt record a significant loss this morning. Temperatures are also expected to rise back towards the season norm, helping near curve contracts shed from their price slightly. |
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Brent Summary Brent 1st-nearby prices display a decrease this morning and markets focus on the rising Covid-19 situation, resulting in low demand and weakening economies. 1-year forward prices Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased, closing at 39.10ppt and £46.80/MWh, respectively. Today’s prices can also be found in an easy to read table on our ‘current UK energy price' page. |
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