|Market Close||Market Close|
|Profit taking by traders resulted in losses on the gas curve yesterday, while overall fundamentals were generally comfortable. Demand levels weakened which contributed to downward movement on the near-curve and weakening oil prices pressured down contracts further out.||Power contracts decreased on Thursday and followed weakening gas and oil markets, erasing the gains recorded on Wednesday. Weaker gas transferred to power prices as the system was long throughout the session as maintenance at the Rough storage facility means no storage injections are taking place.|
|Market Open||Market Open|
|The Pound has plummeted this morning following the vote to 'Brexit' which has supported contracts on the near-curve but has had little impact further out. European contracts have shown little movement due to market uncertainty although a rise is likely as the Euro has weakened against the US Dollar.||The power curve has tracked the movement of gas this morning with the result of the EU referendum the main market driver, with the Pound and the Euro both weakening against the Dollar. However, weaker oil and coal prices have helped towards losses on the far-curve.|
Brent 1st-nearby prices have fallen on the back a strong US Dollar, with the UK's decision to leave the EU also causing volatility; Brent currently trades at around $48.8/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 41.38ppt and £42.61/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