| Gas | Power |
| Market Close | Market Close |
| Gas prices recovered slightly on Wednesday following new lows at the start of the session. An undersupplied system offered some support to the near-curve, as an expected drop in renewables today was likely to lift demand further. | Power prices followed gas and increased during yesterday’s session, moving in the opposite direction to other markets in Europe. Wind levels were expected to decline today which offered support to the prompt, although temperatures are forecast to turn milder over the coming days, offering some resistance. |
| Market Close | Market Close |
| The UK gas system remains significantly undersupplied this morning due to another rise in demand, combined with lower LNG and storage send-outs. However, gas prices are generally stable due to weaker coal, oil and carbon. | Commodity markets remain bearish this morning but power prices display mixed movement as the front of the curve has been supported by a drop in renewables and weaker gas supply. Further out, contracts have opened lower on the back of weak equity markets. |
For a breakdown of the current generation mix visit our Power Generation Insights page.
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Brent Summary Brent 1st-nearby prices display another strong loss and now trade below $52/b. The weekly US Energy Department report offered some brief respite but the bears quickly took re-control of the market. 1-year forward prices Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased – closing at 28.89ppt and £37.90/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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