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

Gas Power
Market Close Market Close
Gas prices were extremely volatile yesterday and shifted direction numerous times throughout the session. Gas flows into the UK were stable and strong wind levels reduced the need for gas-fired power. 6 LNG cargoes are also expected to dock in the UK before the end of the month, weighing on the near-curve. Power prices eased down during Wednesday’s session with weaker carbon providing bearish pressure. Wind levels were forecast to move down today which offered additional support to the prompt, while gas failed to offer any clear direction.
Market Open Market Open
The UK gas system is oversupplied this morning and warmer weather is expected over the weekend, helping to weigh on shorter dated contracts. Exports to Europe have increased on the back of this excess supply. Further out, prices are almost unchanged with little direction provided by fuel markets. The majority of power prices display small gains this morning with concerns at 5 nuclear reactors in France continuing to influence trading. The prompt displays another increase as wind levels are expected to decrease further over the weekend, while the far-curve is generally stable.

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

Brent Summary

Brent 1st-nearby prices moved down yesterday and currently trade below $61/b as there were suggestions in the US that sanctions on Iran could be eased.

1-year forward prices

Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 47.81ppt and £54.18/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 - 12-09-2019

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