9th May 2019 | Posted by: Lawrence Carson | Market Analysis

Gas Power
Market Close Market Close
The majority of gas contracts made gains across the curve yesterday. Cold temperatures, lower power production from wind and rallying carbon prices were all responsible for pushing gas prices higher. All power contracts mirrored the gains of their gas counterparts yesterday, with the help from a bullish carbon market. Day ahead power prices gained £3.15/MWh, lower wind output playing a big part in this.
Market Open Market Open
Gas prices are up in early trading as the system is 22mcm short as flows from the UK LNG terminals dropped by almost 25mcm compared to yesterday. Temperatures are set to gradually warm up in the coming weeks, denting the demand for gas powered heating. This morning, power prices have gained further strength after stronger trading within the wider energy complex. Building on the £3.15/MWh gains made yesterday, day ahead prices open at £47.10/MWh today.

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

Brent Summary

Brent recovered slightly yesterday, rising $0.42/bbl to $70.00/bbl. Worries of deterioration in the US-China trade war were offset by concerns of a tighter market.

1-year forward prices

Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased – closing at 51.30ppt and £56.40/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 09-05-2019

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