19th December 2016 | Posted by: Daniel Birkett | Market Analysis

Gas Power
Market Close Market Close
Gas prices ended the week on a bullish note, supported by an intraday unplanned outage at Rough storage facility on Friday, colder weather forecasts for the week ahead and strong coal and oil prices. Power markets were relatively bullish at the end of last week amid colder weather and expectations of weak renewable power supply. Several French Nuclear units came back online following shut downs amid safety concerns.
Market Open Market Open
The UK market enters this week with a balanced system, and this morning has seen drops on the front of the curve also influenced by the strengthening pound. Towards the back of the curve there is slight upward movement amid increasing oil prices in anticipation of tighter oil supply in 2017. Power prices have dropped this morning, following warmer weather expectations for the rest of December, despite an initial cold spell until Thursday this week. This in turn is reducing demand and pushing prices down, while wind forecasts have increased.

Brent Summary

Brent 1st-nearby prices are being strongly supported this morning on the back of signs that producers would comply with recently agreed terms to cut output levels. Brent currently trades just above $55.6/b.

1-year forward prices

Market close data has revealed that the 1-year forward price for commercial gas and electricity recorded small gains - closing at 44.98ppt and £45.33/MWh, respectively.
Today's prices can also be found in an easy to read table on our 'current UK energy price' page.

Click to enlarge graph

Energy Price Graph - 19-12-2016

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