| Gas | Power |
| Market Close | Market Close |
| Gas prices moved down during Friday's session as residential demand was below average and supply levels were healthy. The oversupplied system helped near-curve contracts to decrease, with two LNG deliveries scheduled to arrive at South Hook further assisting the bears. Further along the curve, contracts shed from their price on the back of weakening Brent. | Colder weather is set to hit the UK later this week which has helped gas contracts move higher this morning. However, the system remains long which has helped to restrict some upward movement, while Brent was almost unchanged and offered no support in either direction. |
| Market Open | Market Open |
| Strong wind generation weighed on near-curve power contracts on Friday with falling gas also providing downward pressure. An expected drop in temperatures for this week limited some of the losses, while the far-curve was influenced by another drop in oil prices. | A colder weather forecast resulted in gains this morning as power contracts display a similar trend to their gas counterparts. Strong wind levels failed to stop the prompt from climbing higher, while a rise in coal offered support to the far-curve |
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Brent Summary Brent 1st-nearby prices recorded a loss of almost $4/b last week and sit just above $44.8/b this morning. Friday's IEA report provided additional bearish pressure as it fuelled concerns regarding rising oil stocks and low demand. 1-year forward prices Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased - closing at 36.40ppt and £38.92/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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