|Market Close||Market Close|
|Far-curve gas prices found support from a rise in coal, oil and carbon markets, while the near-curve moved down amid warmer weather and improved supply. Higher temperatures should reduce demand in the UK but there are fears that the heatwave could impact the cooling of nuclear facilities in Europe.||Gains could be seen across the power curve on Wednesday as prices were pushed higher by a rise in carbon and oil. Warm weather also lifted cooling demand in the UK, while renewable levels were low, resulting in more demand for gas-fired power.|
|Market Open||Market Open|
|The UK gas system has opened short this morning but a healthy LNG outlook has helped to weigh on the near-curve. Meanwhile, the far-curve displays minor losses as coal, carbon and oil have opened lower.||Gas, coal, carbon and oil markets have eased off this morning, contributing to some weakness on the power curve. However, the outlook for carbon prices remain bullish and a rebound is likely. Meanwhile, the prompt displays a loss thanks to improved solar power and healthier gas supply.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices have climbed to almost $66.5/b following a weak US stocks report, with inventories showing a stronger decline than anticipated. Traders will now cast their attentions to the upcoming G20 and OPEC meetings.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased – closing at 48.35ppt and £53.38/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
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