|Gas prices opened at a discount but the bearish movement was halted by an undersupplied system. Coal also rebounded, offering some support to the far-curve, while carbon was stable and oil remained bearish.
|Power prices displayed mixed movement on Tuesday with the spot showing a decrease, while there are some gains at the back of the curve. A slight uptick in wind generation was forecast for today which helped the prompt record a loss, while a rise in coal offered support further out.
|The system has fallen 25mcm short this morning as Norwegian flows, UKCS supply and LNG send-outs have all decreased. Despite the undersupply, gas prices are largely unchanged, with coal and oil markets continuing to move in opposite directions.
|Power prices have opened slightly bearish this morning with little support provided by commodity markets. The prompt displays a slight increase due to an expected drop in wind levels tomorrow, while the short term weather forecast is unchanged.
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices have fallen below $61/b this morning as a further rise in US stocks is expected to be announced this week; the market remains very bearish due to strong supply and weak global demand.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased – closing at 43.15ppt and £47.93/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
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