| Gas | Power |
| Market Close | Market Close |
| Gas prices moved down on Monday as mild temperatures will continue to weigh on demand levels this week, while an increase in wind will also reduce gas-fired power generation. LNG supply increased, helping towards a long system, while a drop in coal prices provided further downward pressure on the far-curve. | The majority of power contracts displayed a loss yesterday with prompt prices tracking the movement of their gas counterparts. A mild weather forecast for the rest of this week and comfortable wind generation helped the prompt close at a discount and a drop in APi2 coal pressured down prices on the far-curve. |
| Market Open | Market Open |
| Temperatures have been revised higher for the next few days but are set to fall below average as the month progresses, limiting losses at the front of the gas curve; the system is also close to balance despite stable demand levels. Meanwhile, traders await today’s announcement in regards to storage capacity at the Rough facility. | Power contracts have climbed higher this morning, erasing some of yesterday’s losses with direction coming from gains on the gas market. Temperatures are expected to turn slightly colder next week, while wind generation is also set to decrease to around the seasonal norm. |
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Brent Summary Brent 1st-nearby prices have shed from their price this morning and trade just below $56/b, close to their monthly average. Strong compliance in regards to OPEC production cuts and rising US rig counts continue to cancel each other out. 1-year forward prices Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 46.20ppt and £45.59/MWh, respectively. Today’s prices can also be found in an easy to read table on or ‘current UK energy price' page. |
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