| Gas | Power |
| Market Close | Market Close |
| Gas prices traded down on Tuesday thanks to an oversupplied system, as Norwegian flows ramped up. Far-curve prices ignored a rise in coal and oil as a healthy outlook in terms of fundamentals dictated the gas market. | Near-curve power prices moved down yesterday with direction provided by weaker gas and a warm weather outlook. Renewable availability was expected to increase slightly today, weighing on the prompt, while bearish movement further out was limited by a rise in commodity markets. |
| Market Open | Market Open |
| The UK gas system is balanced this morning due to a 24mcm drop in flows from Norway. Exports via the IUK pipeline are unchanged despite this drop in supply, as storage levels are above the 5-year average. As a result, prices display further losses with the help of weaker Brent and coal contracts. | The front of the power curve continues to move down this morning thanks to the expectation of above-average temperatures and improved wind levels next week. However, the far-curve is slightly bullish due to a rise in carbon, with little direction provided by coal and oil. |
For a breakdown of the current generation mix visit our Power Generation Insights page.
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Brent Summary Brent 1st-nearby prices are struggling for direction at present despite extremely bullish sentiment. Contracts managed to post a loss yesterday with Saudi Arabia attempting to create some stability on markets. 1-year forward prices Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 50.05ppt and £53.64/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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