Spot power prices moved higher on Monday following a drop in conventional power output and reduced nuclear availability. Prices have opened lower this morning due to a well-supplied system and are expected to stabilise this afternoon. Gas prices also recorded gains yesterday on the back of lower supply, with most gas terminals suffering a reduction in output. Contracts were bearish at the start of today's session as supply levels have increased and demand levels remain low. Today's prices can also be found in an easy to read table on our 'current UK energy price' page.
How did the energy markets close?
Near-curve gas prices showed little change yesterday with Day-Ahead falling by just 0.10ppt. The UK gas system initially opened long but shortened throughout the session due to a drop in Norwegian output. Seasonal contracts also displayed small losses as Brent prices stabilised. Day-Ahead power opened yesterday's session flat as warm weather which resulted in low demand was offset by low wind generation. The majority of contracts recorded small losses and followed their gas counterparts.
How did the energy markets open?
Most gas contracts decreased in price this morning following eased tensions in Ukraine and the Middle-East; contracts fell by around 0.40ppt on average. Day-Ahead was the biggest mover and shed 0.45ppt from its prices as LNG send-outs increased by 7mcm, with overall gas flows up by around 10mcm. A slight drop in temperatures is expected at the start of next week which has had some effect on prices further along the curve. Wind production is forecast to double tomorrow but generation in general is rather low. Near-curve prices took direction from gas and opened bearish while stronger Brent and carbon provided some far-curve support.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased - closing at 55.61ppt and £47.90/MWh,respectively. This can be seen in the graph below. 
Note: Brent Crude prices are taken from opening market data, and do not represent the price as it changes throughout the day.
Latest Brent Crude Prices
Brent 1st-nearby prices posted gains yesterday with bullish influence coming from tensions in the Middle-East and Ukraine; Brent traded at $107.8/b.