| Gas | Power |
| Market Close | Market Close |
| A milder weather outlook for the rest of December continued to dictate the near gas curve yesterday as demand levels are set to decrease. Overall movement was bearish despite a tight system caused by the halt in UKCS production. Further out, a rise in coal prices capped some of the losses, while oil was almost unchanged. | Wind levels were forecast to improve today and a slight rise in temperatures was expected to reduce heating demand, resulting in downward movement at the front of the power curve yesterday. Meanwhile, stronger coal prices offered some bullish resistance further out, with little direction provided by Brent. |
| Market Open | Market Open |
| The bearish trend is set to continue today with an expected drop in residential demand the main market driver on the near-curve. A rise in wind generation has also reduced CCGT demand, weighing on the prompt, while a downward correction in coal prices transferred to contracts on the far-curve. | A drop in coal prices has pressured down contracts at the back of the curve this morning, while a milder weather forecast has helped towards losses at the front of the curve. Wind generation has improved as expected and similar levels are expected tomorrow, resulting in a small decrease on the prompt. |
For a breakdown of the current generation mix visit our Power Generation Insights page.
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Brent Summary Brent 1st-nearby prices have stabilised at around $63.6/b with the shutdown of the Forties pipeline capping the downward movement caused by rising US production. 1-year forward prices Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased slightly – closing at 48.48ppt and £47.11/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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