|Market Close||Market Close|
|Gas prices displayed mixed movement during Tuesday's session as a slight rise in oil prices supported contracts on the far-curve, while the mild weather outlook weighed on the near-curve. Overall supply levels were comfortable as an increase in wind production led to a reduction in gas-fired power generation.||Day-Ahead power fell by almost £0.90/MWh yesterday as wind generation ramped up and consumption levels were below the seasonal norm. The rest of the curve was largely unchanged as stronger gas and oil limited any downward movement.|
|Market Open||Market Open|
|The UK gas system is undersupplied this morning as an outage at the Kollsnes processing plant has reduced Norwegian flows into the UK by 15mcm, while the North Morecambe sub-terminal also went offline. However, prices remain stable as a low demand forecast has offset this drop in supply.||Wind generation is expected to rise further tomorrow, peaking at around 5GW which has helped the prompt record another loss this morning. The rest of the curve has recorded small losses, mirroring the stable gas market.|
Brent 1st-nearby prices displayed a rebound yesterday but have moved back down to around $37.7/b this morning as the global oil market remains unstable.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased - closing at 35.00ppt and £37.93/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