| Gas | Power |
| Market Close | Market Close |
| Near-curve gas prices continued to move down on Thursday, while contracts on the far-curve were stable-to-bullish. The supply picture remained healthy, with an expected rise in wind levels today weighing on the prompt. Coal and carbon markets saw losses, while oil rebounded offering support to the back of the curve. | The system is balanced this morning due to weaker flows and a drop in temperatures, however, improved wind generation has reduced CCGT demand. Commodity markets show little change, while the forecast for the weekend is colder and less windy, helping the prompt move higher. |
| Market Open | Market Open |
| Power contracts decreased yesterday with the front of the curve following their weaker gas counterparts, helped by bearish coal and carbon. A rise in oil prices helped to lift some contracts at the back of the curve, while the prompt moved down on the back of an expected rise in wind levels today. | Fuel markets display mixed movement this morning, although any changes are minimal which means little direction has been offered to power prices. A cold weather outlook for the weekend has led to the prompt opening at a strong premium, with a drop in wind power also a factor. |
For a breakdown of the current generation mix visit our Power Generation Insights page.
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Brent Summary Brent displays a slight rebound but the overall context remains bearish with US sanctions on Iran set to take effect in a few days. Meanwhile, the outlook for financial markets remains weak and continues to pressure down oil prices. 1-year forward prices Market close data has revealed that the 1-year forward price for commercial gas recorded a small loss, while commercial electricity increased – closing at 64.19ppt and £61.53/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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