| Gas | Power |
| 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. |
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Brent Summary 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 |
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