Spot power prices continue to move down today as temperatures are gradually becoming milder, thus lowering consumption levels. Wind production is expected to improve over the next few days, while nuclear generation is also healthy. A weaker demand forecast helped gas prices move down yesterday, while improved LNG supply also offered support to the bears. The UK gas system remains over-supplied this morning and comfortable gas flows should result in further losses. Today's prices can also be found in an easy to read table on our 'current UK energy price' page.
How did the energy markets close?
Gas prices followed a downward trend yesterday following a week of significant gains. The main market driver was an over-supplied system on the back of improved flows and weaker demand, with milder weather expected to stay for the foreseeable future. Power contracts tracked gas and moved down on Monday with a drop in power consumption across Europe helping the bears take control. Near-curve contracts decreased earlier in the session and this downward movement later spread to the far-curve.
How did the energy markets open?
The gas picture is largely unchanged from yesterday with weaker demand and ample supply dictating the market. Temperatures are around the seasonal norm and three LNG deliveries are expected to arrive in the UK before the 3rd of March. Demand levels continue to fall and generation levels are healthy with wind production expected to improve in the coming days. Losses were displayed across the curve this morning with Day-Ahead shedding £0.95/MWh from its price.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased - closing at 50.10ppt and £46.20/MWh, respectively. This can be seen in the graph below. 
Note: Brent Crude prices are taken from opening market data, and do not represent the price as it changes throughout the day.
Latest Brent Crude Price
Brent 1st-nearby prices showed very little movement yesterday and fell by around $0.20/b to trade below $62/b this morning.