| Gas | Power |
| Market Close | Market Close |
| Gas prices displayed mixed movement during yesterday's session as contracts on the near-curve found support from weaker Norwegian supply which was caused by unplanned outages. In contrast, far-curve contracts decreased despite a jump in oil prices as traders corrected down from last week's strong gains. | Improved wind generation and a drop in demand levels led to losses on the near-curve yesterday. The rest of the curve was generally bullish with a rising gas market the main factor behind the increases, assisted by stronger Brent. |
| Market Open | Market Open |
| Norwegian imports to Europe are generally unchanged from yesterday's levels, while Russian supply also remains low. Improved wind levels should result in lower gas-fired generation, while an upward revision in temperatures across Europe should weigh on residential demand. However, a weak LNG outlook is the main market driver this morning with only one delivery scheduled in October, while stronger Brent is also a bullish factor. | Day-Ahead power has decreased this morning as a result of an improved wind generation forecast for the rest of the week, although gas-fired generation still remains relatively high. Movement on the rest of the curve is varied with a fluctuating spark spread and rising coal causing volatility. |
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Brent Summary Brent 1st-nearby prices rebounded yesterday during the first of three meetings in Algiers between major oil producers, as traders await an agreement in regards to a cap on oil output; Brent currently trades at around $46.9/b. 1-year forward prices Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity moved higher - closing at 41.30ppt and £44.51/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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