|Market Close||Market Close|
|Stronger demand levels in the UK, as a result of cold weather offered support to gas contracts yesterday but overall movement on the near-curve was bearish due to a healthy supply picture. Numerous LNG deliveries are expected to arrive in the UK next week which has led to increased send-outs, while flows from Europe also remained high. Further along the curve contracts took direction from rising Brent and posted gains.||Wind generation levels are expected to strengthen significantly over the weekend, while two nuclear power units also returned online, helping the Prompt to close at a considerable discount yesterday. The rest of the curve displayed small increases and were pressured higher by rising coal, gas and oil markets.|
|Market Open||Market Open|
|Fundamentals are generally unchanged this morning but another increase in Brent has resulted in some gains on the gas curve. However, a milder weather forecast and comfortable supply levels have helped to restrict the upward movement and prices are expected to stabilise this afternoon.||Wind levels in the UK are expected to sustain strong levels next week, peaking on Wednesday and Thursday before dropping on Friday. This stronger renewable generation forecast for the short term has helped the prompt record another loss this morning but this has failed to filter through to the rest of the curve. Contracts further out have instead followed their gas counterparts which were pushed higher by an increase in Brent.|
Brent 1st-nearby prices increased on Thursday on the back of a potential 'freeze deal' between major oil producing nations which would result in a production cap.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased - closing at 30.85ppt and £35.05/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