|Market Close||Market Close|
|Near curve gas contracts decreased on Tuesday as exports to Belgium were at their lowest level since the start of the month. The system was balanced throughout the session and flows via the Bacton terminal displayed a slight recovery in the afternoon. Elsewhere, news regarding the Rough storage facility's withdrawal curve for its 4 active wells will be released in the next few days. Further out, prices continued to be pushed lower by weakening Brent.||Power contracts displayed a bearish trend on Tuesday with direction coming from their weakening gas counterparts and another drop in oil. This week's weather forecast was also revised down with cooler weather expected to reduce consumption levels, further weighing on prices. Wind generation was also expected to rise today which helped the Day-Ahead contract record a loss.|
|Market Open||Market Open|
|Norwegian exports have increased to 293mcm this morning, with imports into the UK rising by 10mcm. This helped towards an oversupplied system, with a drop in demand levels also a contributing factor; helping towards losses on the prompt. The losses have filtered through to the rest of the curve with a lack of support coming from the oil market, which is little changed.||Downward movement is evident across the power curve this morning, tracking changes on the gas market once again. Wind levels are healthy as expected and temperatures are around the seasonal norm; the prompt has opened at a discount as a result. Minor decreases are also displayed on the far curve as coal and oil contracts are almost unchanged.|
Brent 1st-nearby prices are stable this morning and remain just below $44.8/b, with crude oil stocks only showing a minimal decline.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased- closing at 42.43ppt and £43.65/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