13th January 2020 | Posted by: Daniel Birkett | Market Analysis

Gas Power
Market Close Market Close
Gas prices moved down on Friday, although the losses were minimal despite an undersupplied system. Storage injections ramped up on the back of the undersupply, while weaker coal, oil and power helped to weigh on the far-curve. Power prices eased down by the end of last week, following their gas counterparts and weaker carbon. However, an expected drop in temperatures and wind levels for the start of this week offered support to the prompt.
Market Open Market Open
The system remains short this morning despite improved supply levels, as demand has increased due to colder temperatures. Gas prices have climbed higher as a result, helped by a rebound on fuel markets. Near-curve power prices trade higher this morning, finding support from an increase in gas, coal and feedstocks, while oil and carbon are generally stable. Temperatures and wind levels have also dropped as expected, providing additional support.

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

Brent Summary

Brent 1st-nearby prices continue to move down as tensions involving Iran and the US have apparently eased; Brent currently trades just below $65/b.

1-year forward prices

Market close data has revealed that the 1-year forward price for commercial gas recorded a small increase, while commercial electricity moved down – closing at 36.95ppt and £43.85/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 - 13-01-2020

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