1st November 2018 | Posted by: Daniel Birkett | Market Analysis

Gas Power
Market Close Market Close
Most gas contracts shed from their price yesterday afternoon as Brent corrected down and coal stabilised. The system was long throughout the session as a rise in temperatures reduced heating demand and overall flows were comfortable. Power prices moved down on Wednesday, tracking movement on the gas curve, with a milder weather outlook also a factor. However, a rebound on coal and carbon markets limited downward movement further along the curve.
Market Open Market Open
The system has fallen short this morning due to a decrease in production at UK offshore sites. Despite this drop in supply, prices continue to move down thanks to weaker fuel markets, while the overall supply picture remains healthy. Gas, coal and carbon markets have decreased this morning which has resulted in losses along the power curve this morning. Meanwhile, a slight rise in temperatures and healthy gas supply has helped to weigh on the prompt.

For a breakdown of the current generation mix visit our Power Generation Insights page.

Brent Summary

Brent 1st-nearby prices have moved down as most stock exchanges continue to lose strength, transferring to commodities, although traders await the impact of sanctions on Iran.

1-year forward prices

Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 61.63ppt and £59.35/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

energy price graph - 01-11-2018

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