11th January 2019 | Posted by: Daniel Birkett | Market Analysis

Gas Power
Market Close Market Close
Gas prices displayed little movement during Thursday’s session as the overall energy complex was relatively unchanged with the exception of coal. The system was long throughout the day due to healthy flows and slight drop in demand. Prompt power prices moved down yesterday due to the expectation of milder weather next week and an improved wind generation forecast which will reduce the need for gas-fired power. Further out, movement was mixed with support provided by rising coal and oil.
Market Open Market Open
The system is 6mcm long this morning with demand levels decreasing further and Norwegian flows improving slightly. Despite this, gas prices display a rebound as traders have moved to cover their positions as we head into the weekend with the oil market continuing to strengthen. An increase in biomass feedstock prices, in addition to bullish coal and oil markets has helped power contracts climb higher this morning. Movement on stock markets has also supported gas prices which has transferred to their power counterparts.

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

Brent Summary

Brent continues to rise due to positivity in regards to trade between the US and China, Brent currently trades around $61.7/b.

1-year forward prices

Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased – closing at 58.40ppt and £59.56/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 - 11-01-2019

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