7th November 2018 | Posted by: Daniel Birkett | Market Analysis

Gas Power
Market Close Market Close
Gas prices stabilised during Tuesday’s session with no major shifts in fundamentals and commodity markets moving in different directions. Coal and oil markets moved down while carbon displayed a rebound, with healthy wind levels and mild weather helping to weigh on the prompt. Gains could be observed across the power curve yesterday despite little movement on the gas market and weaker coal and oil. Instead, prices were dictated by bullish carbon, although an expected rise in wind levels helped the prompt move down.
Market Open Market Open
Gas contracts have moved higher at the start of today’s session despite a further drop in coal and oil prices. A stronger Pound and a slightly oversupplied system has offered further bearish resistance but instead prices have followed bullish carbon contracts. Rising gas and carbon markets have pushed power prices higher this morning, ignoring weaker coal and oil. A mild weather outlook continues to restrict upward movement at the front of the curve but weaker wind levels are forecast for tomorrow which has offered support to the prompt.

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

Brent Summary

Brent 1st-nearby prices display losses this morning as concerns have eased in regards to a weak supply outlook, as sanctions on Iran have had little impact due to waivers granted to 8 nations. US output has also increased and the recent API figures are bearish.

1-year forward prices

Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased – closing at 60.63ppt and £59.18/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 prices - 07-11-2018

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