| Gas | Power |
| Market Close | Market Close |
| LNG send-outs were strong on Tuesday due to an expected delivery from Qatar, while the restart of flows via the BBL pipeline resulted in comfortable systems in the UK and in other European nations. This improved supply picture led to losses across the near-curve, although a rise in Brent helped to limit the downward movement further out. | A higher wind and solar generation forecast helped prompt power contracts to decrease yesterday, with cooler temperatures also weighing on consumption levels. However, the losses were minimal as coal and gas-fired generation still made up the bulk of the UK power mix. |
| Market Open | Market Open |
| Near-curve gas prices have increased this morning but losses cannot be ruled out in the afternoon as the UK gas system is oversupplied on the back of strong LNG send-outs and improved UKCS production. This morning's bullish movement is as a result of rising Brent and a halt in BBL flows which has impacted European gas systems. | Power contracts continue to decrease this morning with the improved renewable generation forecast weighing on the near-curve. Further out, contracts have found direction from a drop in APi2 coal, with a rise in oil contracts is having little effect. |
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Brent Summary Brent 1st-nearby prices recorded a sizeable increase yesterday afternoon following an announcement in regards to a one year deal to help stabilise the oil market; a 7.5Mb drop in crude oil stocks also contributed to the bullish sentiment. 1-year forward prices Market close data has revealed that the 1-year forward price for commercial gas increased, while commercial electricity recorded a small loss - closing at 38.74ppt and £43.43/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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