|Market Close||Market Close|
|Gas prices displayed mixed movement yesterday with losses recorded at the front of the curve and gains further out. Warm weather continued to weigh on demand levels and Norwegian flows increased, contributing to a long system. Meanwhile, a sharp rise in oil prices was the cause behind upward movement at the back of the curve.||Near-curve power prices followed their gas counterparts on Monday, although the prompt found support from weak wind generation which resulted in higher gas-fired power demand. The majority of contracts further along the curve displayed gains on the back of a rebound on coal and oil markets.|
|Market Open||Market Open|
|The UK gas system remains long this morning as demand levels are low and supply levels are up compared to last week. As a result of this comfortable supply/ demand picture, prices on the near-curve have decreased. Losses can also be observed further along the curve as carbon displays a strong decrease and upward movement on coal and oil markets has eased.||Power prices have moved down this morning with direction coming from a sell-off on the carbon market, losses on the gas curve and stable coal prices. Solar power is expected to remain strong this week, while wind levels could improve slightly, weighing on the prompt.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices display further gains this morning with direction coming from concerns regarding low supply levels in the US. Outages in Libya did little to offset the bullish sentiment and Brent trades around $77/b this morning.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 55.59ppt and £54.45/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