| Gas | Power |
| Market Close | Market Close |
| Gas prices weakened yesterday with mild weather expected from this weekend on, acting as the main market driver this week. Wind power is also set to improve which will reduce CCGT generation and coal prices recorded further losses, adding to the bearish trend. | Power contracts decreased on Thursday with direction coming from falling gas and warmer weather. The Pound continued to strengthen against the Euro and APi2 coal posted another loss, with wind generation also expected to remain healthy over the weekend. |
| Market Open | Market Open |
| Temperatures for the first half of February are set to be above average, resulting in a significant drop in demand levels across Europe. As a result, bearish movement has continued at the front of the gas curve with a rise in Norwegian supply also a factor. | Some losses can be observed on the near power curve this morning due to the expected drop in consumption levels over the next fortnight. However, upward movement can be seen further along the curve with support coming from stronger oil contacts. |
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Brent Summary Brent 1st-nearby prices have increased this morning and have climbed above $56/b; there was little change to fundamentals and the bullish movement is a result of market uncertainty. 1-year forward prices Market close data has revealed that the 1-year forward price for commercial gas decreased, while commercial electricity moved slightly higher - closing at 47.15ppt and £46.68/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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