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

Gas Power
Market Close Market Close
Near-curve gas prices moved down on Friday as supply levels were healthy and demand was down. Losses could also be observed further along the curve with direction coming from weaker coal and carbon. Power prices at the front of the curve moved slightly higher on Friday despite milder weather and strong wind levels. Further out, prices moved in the opposite direction, pressured down by weaker coal, gas and carbon.
Market Open Market Open
The UK gas system has opened short this morning which will lead to a rise in storage withdrawals. However, gas prices remain bearish due to a mild weather outlook and healthy LNG send-outs, with further downward pressure provided by weaker coal and oil. Wind generation has dropped significantly this morning but temperatures are forecast to rise above the seasonal average over the next fortnight, weighing on power prices. Meanwhile, coal, carbon and oil markets display losses, providing additional bearish sentiment.

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

Brent Summary

Brent 1st-nearby prices climbed higher on Friday but have erased some of those gains this morning. Prices appear range-bound at present and currently trade at $62.1/b, with traders keeping an eye on the trade situation between the US and China.

1-year forward prices

Market close data has revealed that the 1-year forward price for commercial gas decreased, while commercial electricity posted a small gain – closing at 51.38ppt and £56.06/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 - 11-02-2019

If you would like to learn more about how Apollo Energy can help your business find the best deal on its gas and energy contracts then feel free to get in touch by calling us on 01257 239500 or using the form on our contact form.