13th February 2019 | Posted by: Daniel Birkett | Market Analysis

Gas Power
Market Close Market Close
Gas prices displayed little movement yesterday with only minor changes displayed earlier in the session. Oil prices climbed higher, limiting any losses, while carbon moved in the opposite direction, creating mixed sentiment. Power contracts moved down across the curve on Tuesday, with bearish pressure provided by a significant drop in carbon. An uptick in renewable generation helped to weigh on the prompt, with an expected rise in temperatures also a factor.
Market Open Market Open
The UK gas system has opened long this morning and temperatures are expected to turn milder, resulting in losses at the front of the curve. Meanwhile, fuel markets continue to move in different directions, with oil & coal showing an increase and carbon & power markets displaying a loss. Power prices have stabilised this morning with any gains capped by a drop in gas and carbon markets. Bullish coal and oil markets have offered some support further out but contracts at the front of the curve have been pressured down by a warmer weather outlook.

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

Brent Summary

Brent 1st-nearby prices have increased by around $1/b as Saudi Arabia confirmed it would continue to adhere to its production and exports cuts next month.

1-year forward prices

Market close data has revealed that the 1-year forward price for both commercial gas & commercial decreased – closing at 51.61ppt and £53.85MWh, 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 - 13-02-2019

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