| Gas | Power |
| Market Close | Market Close |
| Gas prices displayed mixed movement on Tuesday with contracts at the front of the curve climbing higher as cold weather has pushed up demand, with below average temperatures expected to continue throughout December. Prices further along the curve were generally stable with oil prices failing to provide much support. | The prompt moved down yesterday due to a higher wind generation forecast and an improved supply outlook in France. Cold weather continued to offer support to the near-curve, while fuel prices displayed very little movement and did little to push far-curve contracts higher. |
| Market Open | Market Open |
| The UK system has opened short this morning but demand levels are slightly lower than previous days which has resulted in bearish sentiment on the near-curve. It has also been announced that the Rough storage facility will return online on the 9th of December, providing additional downward pressure. Meanwhile, changes further along the curve are minimal as traders await news from today's OPEC meeting. | Day-Ahead power has risen this morning as high consumption levels are expected tomorrow due to on-going cold weather; demand is almost 40% higher than this point last year. The rest of the curve displays losses and has tracked the movement of the gas market and weaker APi2 coal. |
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Brent Summary Brent 1st-nearby prices remained volatile yesterday, falling by $2/b before recovering $0.80/b ahead of today's meeting between OPEC members in Vienna. Brent has added to its price again this morning and currently trades above $48.3/b. 1-year forward prices Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased - closing at 44.96ppt and £44.04/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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