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

Gas Power
Market Close Market Close
Gas prices displayed little change on Friday, with weaker coal and carbon markets offset by a rise in oil. Wind levels were expected to ramp up over the weekend but were forecast to drop again at the start of this week which would increase gas-fired power demand. Power prices traded higher on Friday, with a sharp drop in wind generation helping to lift the prompt. Further along the curve, movement was mixed with fuel markets failing to provide any clear direction.
Market Open Market Open
The UK gas system has opened short this morning due to a rise in gas-fired power and planned maintenance at facilities in the North Sea. Storage levels in the UK are full, while improved wind levels are expected later in the week, limiting gains at the front of the curve. Movement along the power curve is generally flat this morning despite weak renewables and reduced gas supply. Temperatures are expected to be around the seasonal norm this week, while commodity markets display mixed changes.

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

Brent Summary

Brent 1st-nearby prices display another increase this morning but overall sentiment is bearish due to the economic slowdown and weak demand; Brent currently trades around $58.5/b.

1-year forward prices

Market close data has revealed that the 1-year forward price for commercial gas climbed higher, while commercial electricity recorded a loss – closing at 48.54ppt and £53.32/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 - 12-08-2019

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