|Market Close||Market Close|
|A surge in demand levels caused by colder weather offered support to the near gas curve yesterday, with additional bullish pressure provided by an outage at the South Hook LNG terminal. Contracts further along the curve moved in the opposite direction with direction coming from weaker coal and oil prices.||Wind generation was forecast to rise today, helping to pressure down the Day-Ahead contract yesterday. A rise in gas prices helped to limit losses on the rest of the near-curve but contracts further out were influenced by falling Brent and coal.|
|Market Open||Market Open|
|Milder temperatures are expected on Wednesday and Thursday which will reduce residential demand in the UK; this has contributed to losses at the front of the gas curve this morning. Sentiment further out is also bearish as coal and oil markets continue to weaken.||Weaker fuel markets weigh on the power curve this morning with an expected rise in temperatures tomorrow also a factor. Coal displays further losses, while the oil market has also softened slightly. Meanwhile, wind levels have improved today as expected, contributing to a healthier supply picture.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices display little change from yesterday’s open, falling by $0.11/b to trade at $57.53/b this morning. The market has stabilised as any bullish pressure has subsided as traders wait for tomorrow’s EIA report.
No 1-year forward prices available for this session
No prices available for this session
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