|Market Close||Market Close|
|Near-curve gas prices increased yesterday as a drop in Norwegian supply due to maintenance resulted in a short UK gas system; Day-Ahead rose by 1.35ppt, Front-Month by 0.40ppt and Front-Quarter by 0.20ppt. However, some losses were displayed further along the curve as the Pound strengthened against the Euro once again and Brent decreased.||The UK gas system remains short this morning as maintenance continues in Norway but this is expected to be concluded tomorrow and flows should return to normal. This expected improvement in supply has helped to weigh on the near-curve this morning, combined with strong LNG output and a milder weather forecast for this week.|
|Market Open||Market Open|
|Power prices displayed a bearish trend yesterday as milder temperatures are expected until the end of the month and wind levels are forecast to rise further over the next few days. Weaker gas and fuel prices also applied downward pressure to the curve, while the Pound continued to strengthen.||Wind generation is set to rise by around 2.5GW tomorrow and solar power will also remain comfortable, helping the prompt to record a sizeable loss this morning which filtered through to the rest of the near curve. Weakening gas and Brent contracts also helped to weigh on contracts with Q2-16 the only contract to display a gain.|
Brent 1st-nearby prices were dictated by on-going oversupply concerns and traded down yesterday with Iranian production set to rise as sanctions in the country are close to being lifted.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased - closing at 40.81ppt and £40.53/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