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

Gas Power
Market Close Market Close
Gas prices decreased on Thursday with direction coming from a fall in coal and oil markets. The system was slightly oversupplied but downward pressure at the front of the curve was provided by a milder and windier weather outlook. Fundamentals were little changed yesterday and power prices recorded further losses, following coal, gas and oil markets. Renewable levels were expected to pick up today which weighed on the prompt, with comfortable levels also forecast for next week.
Market Open Market Open
Gas prices opened the session lower but have increased as the day progressed due to a rise in carbon EUA’s. The system opened 11mcm long which provided bearish sentiment at the start of the session but it has since fallen to 3mcm long as demand is above the seasonal norm. Power prices have climbed higher this morning, dictated by a rise in carbon contracts which has led to increases across all fuel markets. Wind levels increased as expected, but cooler temperatures have helped towards gains on the prompt.

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

Brent Summary

Brent 1st-nearby prices have moved down but overall sentiment remains bullish due to global production cuts, with prices poised to record their 6th weekly increase.

1-year forward prices

Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased – closing at 53.32ppt and £58.08/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 - 12-04-2019

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