| Gas | Power |
| Market Close | Market Close |
| Gas prices decreased on Friday with summer contracts in particular showing healthy losses. A warmer weather forecast will weigh on demand levels which helped contracts on the near-curve to decrease, while rising Brent limited downward movement further along the curve. | Power prices followed their gas counterparts and moved down, with a drop in carbon and coal another contributing factor. Feedstocks were also lower, while an expected rise in temperatures this week applied further bearish pressure to the front of the curve. |
| Market Open | Market Open |
| The UK gas system has opened slightly short this morning as Norwegian flows are down, although healthy storage levels across Europe has helped to offset any impact. Prices continue to move down as the short term outlook is unchanged, with 7 LNG deliveries expected to dock in the UK before the end of May. | Power prices display a slight rebound this morning with bullish oil offering support to contracts further along the curve. Coal is also up, although gains on the near-curve have been restricted by the forecast of improved temperatures, which should exceed the seasonal norm over the coming weeks. |
For a breakdown of the current generation mix visit our Power Generation Insights page.
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Brent Summary Brent 1st-nearby prices hit a 4-week high over the weekend as fundamentals are extremely bullish, with expectations that OPEC will extend production cuts beyond June. Donald Trump’s tweet towards Iran has also had an impact and tensions between the two countries are high. 1-year forward prices Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 49.98ppt and £54.12/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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