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

Gas Power
Market Close Market Close
Following a slightly bullish open, gas prices eased down by the end of the session, tracking movement across overall energy markets. Healthy supply levels also coincided with a drop in demand, resulting in a long system which added to the bearish pressure. Power prices moved in line with gas and traded down throughout Monday’s session. Strong wind levels were set to continue today which helped to weigh on the prompt, while colder weather limited losses on the rest of the near-curve.
Market Open Market Open
The UK gas system remains oversupplied this morning as flows are strong and temperatures are unchanged. This has resulted in further losses across the near-curve, while gains on coal and carbon markets have limited downward movement further out. Power prices continue to ease down this morning as fuel markets have weakened with the exception of feedstocks. The expectation of colder weather continues to provide resistance, while wind levels are set to drop significantly tomorrow, resulting in a large gain on the prompt.

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

Brent Summary

Brent 1st-nearby prices are range-bound presently and trade between $62.15/b & $62.75/b. Uncertainty surrounding US & Chinese trade and upcoming OPEC meetings have prevented any big moves in recent sessions.

1-year forward prices

Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 43.62ppt and £49.15/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 - 12-11-2019

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