|Market Close||Market Close|
|Gas prices moved higher on Monday with the larger increases displayed at the front of the curve. Fundamentals were little changed from last week, although wind levels improved, weighing on CCGT demand. Meanwhile, oil posted a small gain and the Pound weakened, providing bullish sentiment to the curve.||Power prices were bullish yesterday, although improved wind levels helped to pressure down the prompt. Meanwhile, the coal market stabilised and carbon prices decreased; as a result, upward movement along the curve was subdued.|
|Market Open||Market Open|
|The system is around 20mcm long this morning, limiting upward movement at the front of the curve. Russian flows into Europe continue to increase, weighing on European markets, while coal and oil markets have stabilised, capping any gains at the back of the curve.||Fuel markets have moved down this morning, in particular coal, which has helped to weigh on contracts at the back of the curve. However, an expected drop in wind levels tomorrow has resulted in a higher prompt, while the front-month contract is unchanged ahead of its expiry.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices display a small increase this morning and trade just below $75/b. Support was provided by supply concerns in Saudi Arabia as exports at the Bab al-Mandeb shipping lane are restricted due to the threat of attack by Yemen rebels.
1-year forward prices
Market close data has revealed that the 1-year forward price for commercial gas increased slightly, while commercial electricity moved down – closing at 58.11ppt and £57.35/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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