|Market Close||Market Close|
|Minor upward movement could be observed across the gas curve yesterday despite bearish coal and oil markets. Instead, prices were dictated by a rise in CCGT demand as a result of weak renewable power, with stronger carbon contracts also a bullish factor.||Power prices moved higher during Thursday’s session with support provided by the gas market and a significant increase in carbon. Carbon prices have strengthened due to high coal usage in Europe which has led to higher pollution charges. The prompt was one of the few contracts to shed from its price as wind levels were forecast to improve today.|
|Market Open||Market Open|
|The UK gas system has opened 10mcm long this morning as Norwegian flows have increased and CCGT demand is slightly down. This has helped towards some losses at the front of the curve, while the far-curve has been pressured down by a drop in coal.||Coal prices display a strong loss this morning and gas prices are generally bearish, resulting in downward movement on the power curve. The carbon market remains bullish, limiting some of the downward movement, while a healthier wind outlook continues to weigh on the prompt.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices have stabilised around $73/b with a rise in US output helping to weigh on the oil market and support provided by a statement in Saudi Arabia which pledged not to flood the market.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity recorded small gains – closing at 58.07ppt and £57.17/MWh, respectively.
Today’s prices can also be found in an easy to read table on our ‘current UK energy price' page.
Click graph to enlarge