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

Gas Power
Market Close Market Close
Gas prices moved down yesterday as warmer and windier weather is expected which will reduce demand. Maintenance at the Interconnector will also limit exports, resulting in excess supply in the UK, while looking further ahead, the upcoming Easter weekend will see a drop in industrial demand. Power contracts were pressured down by their gas counterparts on Wednesday, with an expected rise in temperatures and wind levels helping towards losses on the near-curve. Coal also moved down which created additional bearish pressure further out.
Market Open Market Open
The UK gas system is slightly long this morning, while coal and oil markets have eased down and carbon is almost unchanged. As a result, gas prices display further losses this morning, with a mild weather outlook continuing to weigh on prices at the front of the curve. The outlook is unchanged this morning and the power curve has decreased further, with direction coming from an expected rise in renewable availability, warmer temperatures and weaker fuel markets.

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

Brent Summary

Brent 1st-nearby prices rebounded yesterday as the effects of a rise in US output were short-lived, instead OPEC production cuts have returned as the main market driver and prices are back above $71.7/b.

1-year forward prices

Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 52.40ppt and £56.53/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 - 11-04-2019

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