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

Gas Power
Market Close Market Close
Gas prices decreased during Wednesday’s session due to comfortable supply; storage levels are extremely healthy and the LNG outlook is strong. Weaker coal, carbon and oil markets also applied downward pressure to contracts on the far-curve. Fuel markets were weak yesterday and the power curve was no exception, however a drop in wind availability limited downward movement on the prompt. The rest of the curve found direction from a drop in gas, coal, carbon and oil.
Market Open Market Open
Near-curve gas prices have stabilised this morning as the UK gas system remains long but uncertainty regarding US LNG supply has offered some support. Meanwhile, a rebound in oil has offered resistance to the far-curve but coal and carbon markets remain bearish. The front of the power curve displays losses this morning as short term temperatures are mild, while renewables should remain comfortable. Further out, prices are more resilient as fuel markets provided little direction.

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

Brent Summary

Brent 1st-nearby prices dipped below $60/b yesterday but have since recovered to around $60.6/b. A bearish US stocks report helped to weigh on the market, with the global economic slowdown also a factor.

1-year forward prices

Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 47.40ppt and £51.23/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 - 06-06-2019

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