|Market Close||Market Close|
|Near-curve gas prices moved down on Friday with direction coming from a mild weather forecast. Bearish movement was also displayed at the back of the curve with weaker oil and coal markets helping to weigh on contracts. In terms of supply, three LNG deliveries are expected to arrive in the UK this week, contributing to further downward pressure.||Power contracts followed the movement of gas on Friday and displayed losses with a milder weather outlook continuing to dictate the market. Downward movement on the prompt was slightly restricted by a drop in wind generation, while weaker fuel prices weighed on contracts at the back of the curve.|
|Market Open||Market Open|
|Prompt gas contracts continue to move down this morning as systems across Europe are well-supplied despite a slight increase in demand levels compared to Friday. Temperatures are expected to turn slightly colder next week which has limited the losses but Norwegian flows have increased to around 350mcm. Meanwhile, stable coal and oil markets, combined with a drop in the Pound has restricted some downward movement on the far-curve.||UK power contracts have moved higher this morning with support coming from stronger European markets and an expected drop in temperatures next week. Oil prices also display a slight increase which has helped towards bullish sentiment on the far-curve.|
Brent 1st-nearby prices have increased over the weekend but remain range bound below $57/b. Production cuts are the main factor behind the bullish movement but an increase in American shale gas has restricted the gains.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 46.43ppt and £45.71/MWh, respectively.
Today’s prices can also be found in an easy to read table on or ‘current UK energy price' page.
Click graph to enlarge
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