| Gas | Power |
| Market Close | Market Close |
| Gas prices displayed mixed changes on Wednesday, with the majority of contracts rebounding from a bearish opening. A planned one-day outage at the Dornum terminal limited Norwegian flows to Europe, providing support to the near-curve. Meanwhile, contracts at the back of the curve displayed some losses following downward movement on coal and oil markets. | Wind generation was expected to fall today which helped the Day-Ahead contract climb higher. This was in contrast to the rest of the curve which displayed numerous losses with the help of weaker fuel markets. |
| Market Open | Market Open |
| A milder weather outlook for next week limited upward movement on the near-curve this morning. However, gas flows are not as high as expected due to unplanned outages, helping contracts move higher. Oil prices have stabilised, while coal displays another loss, restricting gains at the back of the curve. | An expected increase in renewable generation tomorrow has weighed on the prompt this morning, with warm temperatures also forecast. The rest of the near curve shows minor bullish movement, with direction coming from their stronger gas counterparts. Further out, decreases on the coal market continue to cap gains, with little support provided by Brent. |
For a breakdown of the current generation mix visit our Power Generation Insights page.
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Brent Summary Brent 1st-nearby prices trade around $58.4/b this morning and have settled since last week’s market volatility. Yesterday’s EIA report displayed mixed data and failed to offer much support in either direction. 1-year forward prices Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased – closing at 45.73ppt and £45.85/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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