|Market Close||Market Close|
|Prompt gas contracts were supported by an increase in gas-fired power generation and a rise in exports to Belgium. Maintenance at the Mallnow entry point limited Russian gas flows into Europe which tightened gas systems on the continent, with Norwegian imports also lower than previous sessions. Further along the curve, movement was generally bearish with Monday's news in regards to Rough's withdrawal rate continuing to influence the Winter-16 contract.||Power contracts on the near-curve moved higher on Tuesday with direction coming from their rising gas counterparts. Front-Month power rose by £0.65/MWh, while the prompt displayed a strong gain on the back of higher demand levels due to above average temperatures; wind generation was also reduced by 50%. Further out, most contracts posted losses, helped by weaker fuel prices.|
|Market Open||Market Open|
|The UK gas system has opened long this morning with maintenance being concluded at UKCS sites. LNG send-outs are also higher with numerous deliveries expected to dock in the UK before the end of the month. This improved supply picture has resulted in losses across the near-curve this morning, while far-curve contracts also continue on a downward trend.||Warm temperatures and low wind generation has helped the Day-Ahead power contract add to its price this morning. The rest of the near-curve displayed losses with direction coming from weaker gas, while falling coal helped some contracts on the far-curve open at a discount.|
Brent 1st-nearby prices continue on a bearish trend, in contrast to last week's strong upward movement, with pessimism in regards to a potential freeze on oil output continuing to weigh on prices.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased - closing at 38.63ppt and £42.15/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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