|Market Close||Market Close|
|A milder weather outlook and improved LNG send-outs led to downward movement across the near gas curve on Friday, with weaker oil weighing on contracts further out. Four LNG deliveries are expected to arrive in the UK before the end of March which pressured down the prompt, helped by a weaker demand forecast for the weekend.||An upward revision in temperatures for the rest of March helped near-curve power contracts close at a discount on Friday, with demand levels expected to drop this week. However, further along the curve the movement was less noticeable and mirrored the minor losses displayed by gas.|
|Market Open||Market Open|
|The mild weather is set to continue for the rest of the month and supply levels remain healthy, with increased gas flows from Norway and Russia; resulting in further downward movement on the gas curve this morning. This rise in European gas flows, as well as a 15mcm drop in UK demand compared to Friday has contributed to a long gas system. Meanwhile, far curve contracts continue to follow the bearish oil market.||A weaker demand outlook for this week caused by improved temperatures and the upcoming Easter holidays has weighed on prompt power contracts this morning, while wind generation levels are also expected to improve slightly in the coming days. A further drop in Brent and coal prices has also applied downward pressure on the far-curve.|
Brent 1st-nearby prices have recorded another small decrease this morning, adding to Friday's losses. Reports in the US displayed a small rise in US oil production which has led to the current bearish sentiment.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased - closing at 30.06ppt and £34.54/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