|Market Close||Market Close|
|Gas prices climbed higher yesterday with direction provided by a rebound in carbon, while coal was stable and oil turned slightly bearish. Upward movement on the prompt was restricted by a healthier renewable forecast for today which will lead to a drop in CCGT demand.||Power prices increased on Thursday with support coming from bullish gas and carbon prices. Wind levels were expected to ramp up today which capped upward movement on the prompt, although a colder weather outlook created bullish pressure on the rest of the near-curve.|
|Market Open||Market Open|
|The system has opened long this morning with exports halving from yesterday. This improved supply picture has helped towards losses across the near-curve this morning, while a drop in oil and stable coal prices have weighed on contracts at the back of the curve.||Power prices displayed further gains this morning with another increase in carbon continuing to dictate the market. Coal is unchanged, while oil displays a small loss, although this has failed to pressure down prices.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices have dropped to around $78.7/b this morning with direction coming from a tweet made by Donald Trump! There was little direction provided by fundamentals but Trump’s warning to Middle Eastern nations in regards to their attempts to increase oil prices helped to pressure down the market.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 71.64ppt and £68.28/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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