| Gas | Power |
| Market Close | Market Close |
| An expected drop in gas demand in the coming days, as well as weakening coal prices weighed on gas contracts yesterday. A stronger Pound also helped towards the losses, although the downward movement was slightly limited by a tight LNG outlook and low stocks. | Power prices tracked the movement of gas, with above average temperatures expected across Europe in February. Wind levels ramped up, resulting in reduced gas-fired generation, while weakening coal also had a bearish impact. |
| Market Open | Market Open |
| The overall sentiment on the gas curve remains bearish this morning as demand levels are expected to fall significantly from tomorrow due to a rise in temperatures and improved wind generation. The UK gas system has opened long and the Pound continues to strengthen, however coal prices are expected to rebound and could offer some support. | Power contracts display further losses this morning as temperatures are expected to remain mild over the next fortnight, resulting in lower consumption. Prices have also been pressured down by losses on the gas market, while Brent is stable. |
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Brent Summary Brent 1st-nearby prices posted a gain of around $0.60/b yesterday despite a bearish EIA report. The increase was an unexpected one and it is not thought that a weaker Dollar had much of an impact, instead the jump was attributed to market uncertainty. 1-year forward prices Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased - closing at 47.26ppt and £46.52/MWh, respectively. Today's prices can also be found in an easy to read table on or 'current UK energy price' page. |
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