21st February 2017 | Posted by: Daniel Birkett | Market Analysis

Gas Power
Market Close Market Close
Gas prices displayed mixed movement yesterday, with prices at the front of the curve moving down on the back of a mild weather forecast, while contracts on the far-curve displayed small increases; bullish pressure was provided by gains on the oil and coal markets. Healthy wind levels helped towards losses on the near power curve yesterday morning, with mild temperatures also helping to weigh on prices. However, some contracts recovered later in the session as they followed their gas counterparts with direction coming from stronger coal and oil prices.
Market Open Market open
Temperatures across Europe have been revised higher once again which will result in healthy systems across the continent, potentially weighing on near-curve contracts later in the session. However, contracts are trading close to their technical support levels at present and any losses will be minimal, while coal prices continue to climb higher, also restricting downward movement. There is little to influence the front of the power curve this morning and the overall sentiment is mixed. Meanwhile, rising coal prices continue to offer support to the far-curve, with the recent announcement of a ban of North Korean imports in China the main factor behind the increases.

Brent Summary

Brent 1st-nearby prices have increased this morning, however US markets were closed yesterday and their re-opening today could cause bearish movement this afternoon as there has been no major shift in fundamentals.

1-year forward prices

Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased – closing at 47.54ppt and £46.14/MWh, respectively.

Today’s prices can also be found in an easy to read table on or ‘current UK energy price' page.

Click graph to enlarge

energy price graph - 21-02-2017

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