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

Gas Power
Market Close Market Close
Gas prices decreased across the curve on Thursday with downward pressure provided by healthy supply levels and losses on coal, power and carbon markets. Milder weather weighed on demand, while supply levels improved from all sources. Power prices moved down yesterday, following gas, coal and feedstocks. Meanwhile, wind levels ramped up and were expected to maintain high levels today which helped the prompt shed from its price.
Market Open Market Open
The UK gas system remains oversupplied this morning as temperatures are above the seasonal norm which has weighed on demand; wind generation is also healthy, resulting in a decrease in gas-fired power. As a result, gas prices display further losses this morning, with weaker commodities weighing on the far-curve. Lower feedstock prices, mild weather and strong wind output has resulted in further downward movement along the power curve this morning. Oil prices have also eased down slightly, adding to the bearish sentiment.

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

Brent Summary

Brent 1st-nearby prices display a minor gain from yesterday’s open and currently trade around $63.4/b. Markets are stable as no announcement was made by OPEC following the conclusion of its recent meeting.

1-year forward prices

Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 40.71ppt and £46.65/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 - 06-12-2019

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