6th February 2019 | Posted by: Daniel Birkett | Market Analysis

Gas Power
Market Close Market Close
Gas prices were stable-to-bearish during yesterday’s session with fuel markets weakening further and the system close to balance. A drop in wind levels lifted CCGT demand which reduced available supply but a milder weather forecast limited the impact, with a busy LNG outlook also providing resistance. Movement along the power curve was minimal on Tuesday as short term fundamentals were little changed. The far-curve ignored a significant drop in coal as the carbon market turned bullish.
Market Open Market Open
Gas prices display little movement this morning, with some near-curve contacts recording minimal losses. Carbon and coal markets have rebounded slightly but oil continues to move down, providing mixed direction. Day-ahead power has moved down this morning thanks to a rise in wind generation and the expectation of milder weather. However, the majority of contracts on the rest of the curve have moved slightly higher due to a rise in coal and carbon.

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

Brent Summary

Brent 1st-nearby prices have decreased once again this morning as the latest API report showed that the drop in US production was not as high as initially forecast.

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 54.05ppt and £56.35/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 - 06-02-2019

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