| Gas | Power |
| Market Close | Market Close |
| Gas prices displayed mixed movement on Thursday with an expected rise in Norwegian & UKCS flows weighing on contracts at the front of the curve, whereas far-curve prices displayed small gains despite bearish fuel markets. Strong wind levels and mild weather reduced demand levels, resulting in an oversupplied system which in turn pressured down the prompt. | Like gas, power prices varied in their movement yesterday with an expected drop in renewable power today helping the Day-Ahead contract climb higher. Far-curve contracts followed their gas counterparts and were slightly bullish, while a healthier supply outlook for the UK weighed on the near-curve. |
| Market Open | Market Open |
| Gas prices have increased across the curve this morning with uncertainty surrounding the oil market providing support. A warm weather forecast for next week provided some resistance, as did improved supply levels but the impact was minimal. The outage at Kollsnes is now over, although Kristin will remain offline for the next few days following another extension. | Coal and oil markets display a slight rebound this morning, helping far-curve prices add to their price, with today’s OPEC meeting the focus at present. Weaker renewable generation has also resulted in bullish movement across the near-curve, with low levels expected to continue over the weekend. |
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 almost unchanged this morning as traders await today’s OPEC meeting in Vienna which is likely to dictate the market for the coming weeks. The overall expectation is that OPEC nations are unlikely to reach an agreement in terms of production quotas, although any increase would result in strong bearish movement. 1-year forward prices Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity moved higher – closing at 55.37ppt and £54.36/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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