|Market Close||Market Close|
|Gas prices increased on Monday due to this week's cold weather forecast and a rise in APi2 coal. Consumption levels remained well above average with low wind levels resulting in higher CCGT generation and cold temperatures lifting heating demand; further support was also offered by a weak LNG outlook and limited stocks.||Gas contracts have moved down this morning as temperatures are expected to turn milder next week which will continue throughout February, coal prices are also stable and exports via the IUK pipeline have dropped. In terms of supply, UKCS production has improved but Norwegian imports are still low due to two unplanned outages, restricting the losses.|
|Market Open||Market Open|
|Power prices found support from a high demand forecast and rising gas and coal markets yesterday. Supply levels in the UK were at their tightest so far this year but wind production is expected to rise significantly later this week, reducing the nation's reliance on expensive gas-fired generation.||Losses can be observed on the gas curve this morning as above average temperatures are expected next month and wind levels are forecast to rise before the weekend. Downward movement on the gas curve also pressured down contracts, while coal and oil markets are generally unchanged.|
Brent 1st-nearby prices show little change this morning as contracts rebounded overnight following a $1/b decrease yesterday. Production cuts by OPEC nations and supply disruptions in Libya offered some support but rising US output continues to provide bearish pressure.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased - closing at 49.08ppt and £47.98/MWh, respectively.
Today's prices can also be found in an easy to read table on or 'current UK energy price' page.
Click graph to enlarge
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