|Market Close||Market Close|
|Gas prices displayed mixed movement yesterday as Norwegian flows decreased due to maintenance which helped to push near-curve prices higher. Contracts further along the curve moved down and ignored a rise in Brent as the Euro weakened significantly.||Norwegian output has fluctuated this week but flows are significantly stronger this morning, resulting in an oversupplied system, thus weighing on near-curve contracts. Far-curve contracts have also displayed small losses, with a rise in oil offering some resistance.|
|Market Open||Market Open|
|Near-curve power prices moved higher towards the end of yesterday's session as wind generation levels are set to decrease today. Upward movement on Front-Month contracts was slightly restricted by a milder weather forecast for next week, while an increase in Brent offered support to the far-curve.||The prompt has decreased this morning as wind levels are set to drop over the weekend, although above average solar power is expected next week. The rest of the curve displayed minor losses with weaker gas and a warmer weather outlook providing downward pressure.|
Brent 1st-nearby prices showed little change yesterday morning but posted a small gain in the afternoon, taking direction from an announcement at the European Central Bank meeting. The ECB President, Mario Draghi revealed that the organisation is set to provide more market stimulus to improve economic growth.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased - closing at 39.69ppt and £41.15/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