2nd September 2019 | Posted by: Daniel Birkett | Market Analysis

Gas Power
Market Close Market Close
Gas prices followed a stronger European energy complex on Friday with most markets displaying a gain. Any increase on the prompt was limited by healthier wind levels which has resulted in less reliance on gas-fired power. Power prices inched higher on Friday with support provided by a rise in coal and carbon, while an expected rise in temperatures could lift demand for cooling. However, stable renewable generation was forecast for the weekend and today, capping upward movement on the prompt.
Market Open Market Open
Gas prices have decreased this morning as the system has opened 44mcm long resulting in strong losses on the prompt which have filtered through to the rest of the near-curve. Further out, prices have been pressured down by a drop in coal and oil. Power prices have followed their gas counterparts and moved down this morning, with comfortable wind generation contributing to a loss on the prompt. Meanwhile, fuel markets have moved down, helping to weigh on the back of the curve.

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

Brent Summary

Brent 1st-nearby prices fallen back below $60/b following a reported rise in OPEC production despite reduced exports in Saudi Arabia and US sanctions placed on Iran. Instead, a rise in Nigerian and Iraqi supply has helped to boost OPEC figures.

1-year forward prices

Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 43.73ppt and £49.23/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 - 02-09-2019

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