12th March 2019 | Posted by: Daniel Birkett | Market Analysis

Gas Power
Market Close Market Close
Gas prices weakened on Monday with an expected rise in temperatures, healthy supply and a stronger wind generation forecast weighing on the front of the curve. Meanwhile, fuel markets offered little support and movement at the back of the curve was also bearish. Power prices followed their gas counterparts and moved down yesterday, with additional bearish pressure provided by a fall in carbon and a stronger Pound. Far-curve prices also closed at a discount with direction coming from further decreases on the coal market.
Market Open Market Open
The UK gas system has opened long this morning as supply levels remain strong, resulting in losses on the near-curve. However, contracts at the back of the curve have added to their price thanks to a rise in carbon, oil and power. Carbon has rebounded this morning and oil continues to move higher resulting in gains on the power curve. Coal and some gas contracts are also up, although the Pound has strengthened further, limiting some of the upward movement.

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

Brent Summary

Brent 1st-nearby prices have increased overnight as overall market sentiment is unchanged with traders taking direction from global production cuts and issues in Venezuela.

1-year forward prices

Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 48.63ppt and £53.76/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 - 12-03-2019

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