|Market Close||Market Close|
|Gas prices moved higher yesterday as the supply/ demand outlook for the coming days is tighter and cooler temperatures are forecast for next week. The gas curve ignored weakening coal and oil markets and movement was dictated by the shortfall in supply.||Power prices followed the gas market yesterday and moved higher, with a slight rise in carbon contracts also a factor. A drop in coal and oil prices helped to cap upward movement at the back of the curve, while the prompt recorded a small loss thanks to an expected decrease in demand today.|
|Market Open||Market Open|
|The system remains undersupplied this morning but prices at the front of the curve display losses, with a flurry of LNG deliveries scheduled for the first week of April. Meanwhile, a drop in coal and oil has helped to weigh on the far-curve but on-going Brexit turmoil continues to weaken the Pound.||Weaker gas, coal, carbon and oil markets have pressured down power prices this morning, with biomass feedstock prices also trading lower. Renewable power availability is around the seasonal norm but cooler temperatures next week could offer support.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices display a small loss this morning as a result of some bearish data in the latest EIA report, with Russian statistics also expected to be supportive for this month.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased – closing at 44.65ppt and £49.85/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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