| Gas | Power |
| Market Close | Market Close |
| Temperatures were revised higher for the rest of January which resulted in losses at the front of the gas curve yesterday. Supply levels were comfortable and the system remained long despite above average demand levels, with strong wind reducing CCGT demand. Further out, contracts tracked the downward movement displayed on the oil market. | Healthy wind generation and an expected upturn in temperatures continued to pressure down near curve power contracts on Tuesday. Oil prices also displayed a drop but any losses on the far-curve were capped by a rebound in coal. |
| Market Close | Market Close |
| Gas contracts display losses on the back of an oversupplied system, with a mild weather forecast for next week also weighing on the near-curve. LDZ demand has dropped by 4mcm and flows into the UK are comfortable. Meanwhile, prices at the back of the curve have moved down due to a bearish oil market. | Wind levels are set to decrease tomorrow which has offered support to the prompt this morning, however the rest of the curve has inched down with direction coming from a milder weather outlook and healthy gas supply. A drop in Brent has also provided downward pressure at the back of the curve, while coal is relatively stable. |
For a breakdown of the current generation mix visit our Power Generation Insights page.
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Brent Summary Brent continues to move down as last week’s bullish momentum has subsided, with traders awaiting the release of tomorrow’s EIA report which will provide an update on production levels in the US. 1-year forward prices Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 48.41ppt and £47.37/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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