| Gas | Power |
| Market Close | Market Close |
| Gas prices fluctuated throughout Wednesday's session as Centrica announced that injections and withdrawals at the Rough storage facility will cease, temporarily due to some issues. This helped to weigh on near-curve prices, while contracts further out increased. | Power contracts moved higher yesterday, correcting some of the losses which were recorded on Tuesday. The near-curve was pushed higher by rising coal prices but cooler temperatures are expected over the next couple of weeks which helped to restrict the bulls. The stronger movement was displayed further along the curve as contracts followed their rising gas counterparts. |
| Market Open | Market Open |
| Operations at the Rough storage facility will cease until the end of July, at the earliest which should continue to support far-curve contracts today. Meanwhile, a drop in demand and stable fundamentals elsewhere have led to some losses at the front of the curve. Overall movement on the curve is rather stable at present but traders will keep one eye on today's 'Brexit' vote. | The UK's vote on whether it will remain in the European Union could have a major effect on the markets, however this is unlikely to come into play until tomorrow morning. Today, the overall sentiment is mixed with stronger gas and coal supporting contracts further along the curve, while weaker consumption weighs on the prompt. |
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Brent Summary Brent 1st-nearby prices decreased yesterday and trade at $50.10/b this morning following the release of the EIA report which showed a decline in crude oil stocks. 1-year forward prices Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased - closing at 41.55ppt and £42.95/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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