|Market Close||Market Close|
|Gas prices displayed strong gains during Thursday's session as temperatures are set to drop over the weekend, which will lead to a significant rise in demand. Production cuts at Holland's largest gas facility also returned as a market driver later in the session.||The UK gas system is oversupplied this morning following a sharp rise in supply which has offered some bearish pressure on the near-curve. Despite the forecast of a cold spell over the weekend, above average temperatures are expected to return next week which also helped towards erasing some of yesterday's gains.|
|Market Open||Market Open|
|Power prices were dictated by rising gas yesterday, while an expected drop in temperatures and wind generation also pushed contracts higher. Winter-18 and Summer-19 were the exceptions to the upward movement and displayed losses of £0.65/MWh and £0.50/MWh, respectively.||A significant drop in wind generation and a short-term surge in consumption has helped Day-Ahead power display extremely strong gains this morning. Most of the curve followed the movement of weaker gas and oil and displays a bearish trend, although a rise in coal prices has supported some far-curve contracts.|
Brent 1st-nearby prices are generally stable at present and posted a small loss overnight to trade at around $44.2/b this morning. The overall outlook remains weak and further losses are expected next week due to a low demand forecast.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased - closing at 36.85ppt and £39.30/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