27th January 2021 | Posted by: Daniel Birkett | Market Analysis

Gas Power
Market Close Market Close
Tighter supply limited losses on the near gas curve yesterday, as imports into the UK remained low due to outages, while cold weather lifted demand to above the seasonal norm. Oil markets remained stable, while coal and carbon decreased. Movement along the power curve was mixed yesterday, with strong demand contributing to gains on the near curve and stable-to-bearish fuel markets helping to weigh on longer dated contracts.
Market Open Market Open
Temperatures have been revised higher for February, which is expected to ease demand, resulting in losses across the curve this morning. However, unplanned outages at Norwegian facilities and increased storage withdrawals provide resistance. Power prices also trade lower this morning due to the forecast of milder weather next week. Improved renewable generation is also a factor, with wind levels set to pick up tomorrow, resulting in a loss on the prompt.

For a breakdown of the current generation mix visit our Power Generation Insights page.

Brent Summary

Brent 1st-nearby prices are holding their price at present with no new significant news in the past few days able to support the market in either direction. Weak global demand on the back of lockdowns continues to provide bearish pressure.

1-year forward prices

Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased, closing at 46.50ppt and £55.06/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

energy price graph - 27-01-2021

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