| Gas | Power |
| Market Close | Market Close |
| Gas prices displayed further gains by the end of yesterday’s session despite a bearish open. Bullish pressure was provided by an announcement from Naftogaz, the Ukrainian pipeline operator which revealed that no gas transit deal will be agreed with Russia before the end of the year. | Power prices tracked movement on the gas curve on Wednesday as energy markets were dictated by gas transit issues between Ukraine and Russia. Far-curve prices also found additional support from a rise in carbon prices. |
| Market Open | Market Open |
| Yesterday’s announcement in Ukraine continues to support gas prices this morning, with an undersupplied system also adding to the bullish sentiment. Temperatures are around the season norm but an uptick in wind generation has helped to reduce gas demand, limiting some of the upward movement. | Power prices continue to move higher this morning as gas, coal and carbon markets remain supportive. Short term temperatures are slightly milder and wind generation has improved today but this is expected to change tomorrow and the prompt has moved higher. |
For a breakdown of the current generation mix visit our Power Generation Insights page.
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Brent Summary Brent 1st-nearby prices display little change this morning due to a lack of new market drivers; Brent currently trades around $66.2/b. 1-year forward prices Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased – closing at 40.93ppt and £47.83/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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