| Gas | Power |
| Market Close | Market Close |
| Gas prices increased across the curve on Thursday with below average temperatures expected over the coming days. Unplanned outages and weak LNG send-outs also limited supply levels, offering further support. Meanwhile, oil and coal prices increased in the afternoon, helping to lift contracts on the far-curve. | Power prices found direction from bullish gas and coal markets yesterday, with a significant drop in renewable generation expected today, resulting in a strong gain on the prompt. Further out, prices were generally bullish following a rebound on fuel markets. |
| Market Open | Market Open |
| The UK gas system has opened long this morning as flows via the Langeled pipeline have increased by 23mcm, making up for a sharp rise in CCGT demand due to low renewable power. However, the unplanned outage at the Kårstø processing facility continues to restrict supply, limiting any losses. Higher fuel markets have provided support to far-curve contracts but the changes are minimal. | Wind levels are very low today but are expected to pick up over the weekend, helping the prompt shed from its price. However, a colder weather outlook for next week has contributed to gains across the rest of the near-curve, while prices at the back of the curve have been pushed higher by an increase in Brent and coal. |
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 a small upward correction this morning and trade around $74.4/b. Concerns that fresh sanctions may be imposed on Iran have provided some support, on top of on-going factors such as OPEC cuts. 1-year forward prices Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased – closing at 50.68ppt and £50.57/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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