5th June 2019 | Posted by: Natalie Ormrod | Market Analysis

Gas Power
Market Close Market Close
Gas prices rebounded yesterday, driven by a move on spot prices. Longer dated contracts saw little movement despite gains in coal, Brent oil and carbon. UK Power prices rebounded yesterday, boosted by a rise in Carbon and Gas prices.
Market Open Market Open
The system has opened well-balanced this morning, with prices slightly down, while demand remains well above seasonal norms. LNG vessels continue to arrive, seeing storage levels rise. Power contracts have mirrored their Gas counterparts this morning. Wind generation is forecast to fall tomorrow, while temperatures are set to fall below seasonal norms for the next week.

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

Brent Summary

Brent 1st-nearby prices have risen this morning and currently trade at just below $62/b, as news of the OPEC meeting at the end of June lifts prices. Saudi Arabia confirm they are willing to do whatever it takes to stabilise the market as production cuts are due to expire at the end of June.

1-year forward prices

Market close data has revealed that the 1-year forward price for commercial gas and commercial electricity both displayed a loss – closing at 47.59ppt and £51.84/MWh, respectively.

Today’s prices can also be found in an easy to read table on our ‘current UK energy price' page.

Click to enlarge graph

Energy Price Graph - 05-06-2019

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.