|Gas prices displayed little change during Thursday’s session despite a long UK gas system and weaker commodities. The prompt weakened thanks to mild temperatures and stable renewables, while a drop in coal and carbon limited upward movement further out.
|Power prices decreased yesterday with the exception of the front-month contract which displayed a small gain. Weaker coal and oil weighed on prices further along, while healthy fundamentals dictated the near-curve.
|The UK gas system is close to balance this morning, as weaker demand has offset the effects of reduced flows from Norway. This has helped towards losses on the near-curve, while longer dated contracts have found direction from weaker coal.
|Power trading is subdued ahead of the Bank Holiday with some bearish direction provided by a drop in coal, while carbon has opened almost flat. Short-term fundamentals are also healthy with warmer weather expected over the weekend, while wind availability should pick up later next week.
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices display a strong loss following a bearish stocks report, ignoring supportive fundamentals, however, prices have rebounded slightly and trade around $67.75/b.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 50.09ppt and £54.11/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