20th February 2014 | Posted by: Daniel Birkett | Market Analysis

Whilst spot prices are thought to rise slightly next week due to forecasted cooler weather, and constricted nuclear availability in France, movement across the power market is expected to be minimal today. Yesterday saw front-month power contracts close lower as a result of weak fundamentals, whilst today's outlook remains stable. Comfortable supply and persistent mild weather facilitated a fall in European spot and near curve prices. With supply conditions remaining comfortable, spot prices may shed value today. Near curve prices however are expected to show little change, with March-14 prices receiving assistance from technical supports.

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?

The gas curve saw minor losses yesterday with Summer-16 recording the largest loss of 0.55ppt, whilst Day-Ahead fell 0.05ppt as Linepack closed long at 9mcm yesterday. The near-power curve mirrored the gas curve movements yesterday, with Day-Ahead shedding £0.90/MWh as a result of an expected increase in nuclear availability today. A climb in EU carbon prices enabled the far curve to close at a premium.

How did the energy markets open?

The gas curve traded flat this morning with only minor movements being seen across the curve. Linepack opened long again today, and gas storage is remaining around the 55% mark. Again, power prices followed their gas counterparts as the power curve traded moderately flat this morning. The climb in EU carbon prices has meant far curve contracts are continuing their bullish trend. A reduction in APi2 coal helped power prices to hold out against higher gains.

1-year forward prices

Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity remained flat - closing at 62.00ppt and £49.75/MWh, respectively. This can be seen in the graph below.

Energy Prices

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 Prices

Brent 1st-prices remained relatively stable yesterday, hovering around $110.4/b, while WTI gained 88 cents taking the Brent/WTI spread to -$7.3/b this morning. Brent prices have dropped this morning following the news that China's' flash Markit/HSBC PMI fell again during the night.