| Gas | Power |
| Market Close | Market Close |
| Gas prices eased down on Monday with healthy supply levels weighing on contracts at the front of the curve. Improved wind levels reduced gas-fired power generation, while a milder weather outlook will result in a drop in heating demand. Meanwhile, weaker coal prices contributed to bearish movement at the back of the curve. | Increasing wind levels resulted in downward movement across the near power curve yesterday, with milder weather also a factor. Weaker coal, carbon and gas also helped to pressure down prices at the back of the curve, with oil also showing a decrease later in the session. |
| Market Open | Market Open |
| The UK gas system is close to 20mcm long this morning with a rise in temperatures and wind levels weighing on demand. Norwegian and Russian flows remain healthy, while LNG send-outs are strong due to regular deliveries. Gas prices display further losses as a result. | The trend for power prices remains bearish this morning, with a sell-off on the carbon market, combined with weaker coal and gas the main market driver. In addition, healthy wind levels continue to reduce CCGT demand. |
For a breakdown of the current generation mix visit our Power Generation Insights page.
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Brent Summary Brent 1st-nearby prices recorded a small loss yesterday evening and currently trade around $79.8/b. Bearish sentiment was provided by Saudi Arabian comments in regards to balancing the market. 1-year forward prices Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 64.88ppt and £61.20/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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