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

Gas Power
Market Close Market Close
Gas prices inched higher in the afternoon, with support provided by increases on power and carbon markets, while Brent also remained bullish. However, a milder weather outlook and a rise in LNG send-outs helped to limit upward movement at the front of the curve. Power prices increased during Wednesday’s session with direction provided by a strengthening carbon market and higher demand, as temperatures dipped. The prompt also found support from an expected drop in renewable availability today, with weak levels recorded across Europe.
Market Open Market Open
The system is slightly oversupplied this morning thanks to strong LNG supply which has reduced the impact of increased exports to Europe. 10 LNG cargoes are expected to dock in the UK over the next 15 days, allowing for increased storage injections. This has helped prices erase some of yesterday’s strong gains. Fuel markets have eased down this morning following a bullish Wednesday afternoon, although carbon has managed to hold its price. Power markets display minor losses but the near-curve continues to find support from weak renewables and cooler weather.

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

Brent Summary

Brent 1st-nearby prices display little change from yesterday’s open and fundamentals are unchanged and OPEC continue to reduce production.

1-year forward prices

Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased – closing at 48.05ppt and £50.94/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 - 04-04-2019

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