8th May 2019 | Posted by: Natalie Ormrod | Market Analysis

Gas Power
Market Close Market Close
Trade on Gas was mixed yesterday with an early morning rally, by the afternoon the market turned which saw lower front curve and spot prices due to increasing wind output, rising temperatures and strength in Carbon. Power prices tracked Gas prices yesterday, as the back end of the curve saw gains. European spot markets fell amid rising temperatures and increasing wind output, while curve prices rallied with Carbon.
Market Open Market Open
The system is long this morning, driven by lower seasonal temperatures for the next two weeks, however ample supply from Norway and strong LNG send-out should combat this increase. The Norwegian government announced an increase in production at Troll field which could keep pressure on gas prices. Power prices are slightly softer this morning, with healthy supply despite rising demand. In contrast the far curve has seen gains, ignoring the recent bearish movement from Crude oil.

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

Brent Summary

Oil prices closed at their lowest in over a month yesterday, as the market awaits US crude and distillate inventories today. Brent trades at $69.88bbl, falling further from yesterday’s price.

1-year forward prices

Market close data has revealed that the 1-year forward price for commercial gas decreased & commercial electricity increased – closing at 50.73ppt and £54.93/MWh, respectively.

Today’s prices can also be found in an easy to read table on our ‘current UK energy price' page.

Click to enlarge graph

Energy Price Graph - 08-05-2019

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