|Market Close||Market Close|
|Gas prices decreased on Tuesday with weak demand levels and falling commodity markets the main market drivers. The system was balanced but further unplanned outages in Norway offered some support to the prompt. The far-curve weakened as coal prices decreased due to Chinese workers agreeing to postpone holidays next month to avoid supply shortages.||Downward movement displayed by coal and Brent prices transferred to the back of the power curve yesterday, while the prompt moved down on the back of a strong wind outlook for today. The rest of the curve was also bearish despite the expected drop in temperatures.|
|Market Open||Market Open|
|An expected drop in temperatures has contributed to gains at the front of the gas curve this morning as demand levels are set to rise above the seasonal norm. However, the system is 26mcm long this morning, restricting the gains, with healthy wind generation reducing CCGT demand. Meanwhile, bearish sentiment on the oil market has capped upward movement on the far-curve.||Near-curve power prices have climbed higher as the UK is set for a short spell of below average temperatures, lifting heating demand. Wind levels are expected to remain strong tomorrow before dropping on Friday and over the weekend, while the far-curve has struggled for direction following another drop in oil prices.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices fell to around $68.3/b yesterday but have recovered back to around $69/b this morning. Yesterday’s drop was fuelled by the release of API data which showed a rise in US crude oil stocks.
No prices available.