4th January 2019 | Posted by: Daniel Birkett | Market Analysis

Gas Power
Market Close Market Close
Gas prices weakened yesterday with the back of the curve pressured down by falling coal and carbon markets. An upward revision in this month’s weather forecast helped to weigh on the near-curve, with a healthy LNG outlook and a long system also a factor. A drop in coal and carbon prices helped to limit upward movement on the power curve, with the prompt shedding from its price due to a slightly improved demand/ supply outlook for today.
Market Open Market Open
Temperatures have been revised down once again for later in the month which has offered some support to the front of the gas curve this morning. Coal and carbon markets have stabilised but oil remains bullish and has provided strength to the far-curve. Power prices display losses this morning with a milder weather forecast for the start of next week helping the prompt move down, with an expected rise in wind levels also contributing. Meanwhile, the back of the curve follows rising oil prices like its gas counterpart.

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

Brent Summary

Brent 1st-nearby prices continue to climb higher as negotiations between the US and China are expected to take place to try and resolve the on-going trade dispute. Production cuts are also helping to support the market with reports of a drop in Saudi Arabian output. Brent currently trades around $56/b.

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 58.33ppt and £59.96/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 - 04-01-2019

If you would like to learn more about how Apollo Energy can help your business find the best deal on its gas and energy contracts then feel free to get in touch by calling us on 01257 239500 or using the form on our contact form.