8th February 2019 | Posted by: Daniel Birkett | Market Analysis

Gas Power
Market Close Market Close
Gas prices were pressured down by a significant drop in coal yesterday, with oil and carbon markets also displaying a loss. Mild temperatures helped to weigh on the near-curve, although a drop in Dutch flows via the BBL pipeline limited losses on the prompt. Power contracts followed bearish gas with direction coming from weaker fuel markets. Coal recorded a strong loss following news that EDF’s 2GW coal-fired Cottam power plant would be closed in September this year.
Market Open Market Open
The UK gas system is balanced this morning, while coal, carbon and oil markets continue to move down which has helped to weigh on prices across the gas curve. Overall fundamentals are healthy with a rise in wind levels and milder weather reducing demand in the UK. Power prices displayed further losses this morning with the more prominent decreases seen at the front of the curve. Wind production matches gas-fired generation this morning and temperatures have increased, keeping demand levels low.

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

Brent Summary

Brent 1st-nearby prices have moved down this morning but the trade dispute between the US and China continues to rumble on could provide support today.

1-year forward prices

Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 52.65ppt and £56.00/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 - 08-02-2019

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