9th November 2018 | Posted by: Lawrence Carson | Market Analysis

Gas Power
Market Close Market Close
A sharp drop in both coal and oil prices yesterday meant slightly softer gas prices. Norwegian supplies saw a drop, this coupled with a rise in both carbon and power prices provided some support for gas. Power prices were mostly focused on the gains in carbon yesterday. Nordic and German markets were mostly unaffected by lower coal, gas and oil prices, whereas the UK power prices moved with the NBP gas markets rather than following carbon.
Market Open Market Open
The system is balanced this morning, coal and oil being slightly lower whilst carbon is unchanged. The flows from Norway have picked back up and the weather is forecast for slightly below normal temperatures at the end of the 15 day outlook, providing support for gas. A bearish outlook for today, oil prices moved down sharply overnight with coal prices following that trend this morning, weighing down on power prices. Spot conditions do however appear bullish due to the downward revision in temperatures for the second part of the month.

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

Brent Summary

A drop in Brent prices sees it trading at $70.65/b this morning. A rebound is not expected today and it looks like we will finish the week close to these levels.

1-year forward prices

Market close data has revealed that the 1-year forward price for commercial gas decreased whilst commercial electricity increased – closing at 61.21ppt and £61.33/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 09-11-2018

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