| Gas | Power |
| Market Close | Market Close |
| Gas contracts displayed mixed movement on Thursday as the system fell short in the afternoon due to weakening Norwegian flows. Further out, a strong rise in oil prices was ignored and instead contracts were pressured down by weaker coal and power prices. | A slight rise in renewable generation was expected today which helped the prompt move down yesterday, with the losses filtering through to the rest of the curve. A drop in coal contributed to losses at the back of the curve, although strengthening Brent helped to limit the downward movement. |
| Market Close | Market Close |
| The UK gas system has opened 15mcm long this morning as issues at the SEGAL pipeline have been resolved and Norwegian flows into the UK have increased slightly. Temperature forecasts for next week have also been revised higher and oil prices have stabilised resulting in a bearish opening to today’s session. | Wind generation is expected to ramp up over the weekend, along with a slight rise in solar power, while a warmer weather outlook for next week should reduce heating demand; resulting in losses across the near power curve. Contracts further out also display bearish movement with direction coming from weaker coal. |
For a breakdown of the current generation mix visit our Power Generation Insights page.
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Brent Summary Brent has increased by around $1/b to reach its highest price since July 2015. Bullish sentiment was provided by a stronger US Dollar and supportive comments from Saudi Arabia in terms of extending output cuts. 1-year forward prices Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased slightly – closing at 46.13ppt and £45.48/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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