|Market Close||Market Close|
|Most gas contracts displayed small gains yesterday as wind generation levels are set to remain low next week and storage withdrawals increased, supporting prices on the near-curve. Overall supply levels are generally unchanged, while oil prices were rather stable and did little to influence the far-curve in either direction.||Temperatures are set to rise above the seasonal norm in the coming days which helped near-curve power contracts end yesterday's session at a discount. Low renewable generation limited losses on the prompt, while contracts on the far-curve were largely unchanged.|
|Market Open||Market Open|
|The majority of contracts have moved down today with a milder weather outlook for the next few days influencing the near-curve. Gas-fired power generation could lift demand levels next week as wind production are set to remain low, although this failed to provide much support. Further out, another drop in oil prices has applied additional downward pressure and the overall sentiment is bearish.||Power contracts continue on a downward trend this morning despite weak wind generation which is expected to continue into next week. It has also been confirmed that the Fiddler's Ferry coal-fired power plant, which was set to close today will stay open for an additional 12-months; ensuring 1,445MW of generation capacity will be available next winter.|
Brent 1st-nearby prices have displayed a small decrease this morning as yesterday's EIA report did little to fuel the market. Prices currently trade just below $38.9/b as global oversupply fears continue to influence traders.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased - closing at 30.30ppt and £34.65/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