|Market Close||Market Close|
|Gas prices decreased yesterday afternoon as the UK gas system was balanced throughout the session following a rise in supply. The Pound also weakened further against the Euro which resulted in some losses on Euro-traded contracts, while a drop in Brent pressured down prices on the far-curve.||A falling gas market and the depreciation of the Pound Sterling applied downward pressure on the power curve on Monday as the market continued to feel the effects of the Brexit vote. Weaker consumption levels and healthy wind generation also helped towards losses on the near-curve.|
|Manager Open||Manager Open|
|Norwegian gas flows have increased once again this morning which has led to balanced gas systems across Europe, with the UK system well-supplied in particular. This, combined with the continuing fall in the British Pound has resulted in further losses on the gas curve today.||Power contracts display losses this morning with direction coming from the weaker gas curve and a drop in coal prices. Wind generation is also set to rise over the coming days which further weighed on the prompt, while temperatures remain below the seasonal average.|
Brent 1st-nearby prices moved down last night before making a slight recovery this morning to trade at $48.16/b; the market still remains rather turbulent following Thursday's Brexit vote.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased - closing at 40.93ppt and £42.32/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