7th January 2019 | Posted by: Daniel Birkett | Market Analysis

Gas Power
Market Close Market Close
Gas prices were pushed higher by rising fuel markets on Friday, with coal, oil and carbon all gaining in value. Temperatures were also expected to turn colder later in the month which provided additional bullish pressure at the front of the curve. Power prices followed their gas counterparts on Friday and increased, with bullish sentiment provided by gains displayed on oil, coal and carbon markets. Meanwhile, the expectation offered support to the near-curve, although a significant rise in wind generation was expected this week, weighing on the prompt.
Market Open Market Open
Temperatures have been revised upwards for the rest of the month which has contributed to losses at the front of the gas curve this morning. Oil continues to rise but a drop in coal and carbon prices has helped to weigh on the far-curve. Power prices have eased down this morning as recent forecasts point towards milder weather and wind levels have increased as expected. Further out, contracts have been pressured down by a drop in coal and carbon, ignoring stronger Brent.

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

Brent Summary

Brent 1st-nearby prices recorded further gains over the weekend and this morning with direction coming from OPEC cuts which have removed 460,000 barrels a day from the market.

1-year forward prices

Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity moved down – closing at 57.43ppt and £59.51/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 - 07-01-2019

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