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

Gas Power
Market Close Market Close
Gas prices displayed additional losses during Tuesday’s session as overall fundamentals remained bearish. Small increases on coal and oil markets offered some support to the far-curve, while the Pound dropped later in the day. Power prices were generally bearish yesterday although a few contracts managed to close at a premium. Windy weather helped to weigh on the prompt, while an expected rise in temperatures limited upward movement on the rest of the near-curve. However, a rise in coal and oil helped towards some gains further out.
Market Open Market Open
The system is close to balance this morning and the short term weather outlook is mild, resulting in further downward movement at the front of the curve. Stable renewable power is also expected and LNG supply is healthy. Meanwhile, fuel markets show little movement and have failed to offer much direction to the far-curve Power contracts have moved down this morning with direction coming from weaker gas, coal and carbon markets. The on-going situation surrounding Brexit could offer support today but the Pound has strengthened slightly from yesterday’s close.

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

Brent Summary

Brent 1st-nearby prices display a minor gain with no fresh factors dictating price movement at present, as OPEC production cuts continue to act as the main market driver.

1-year forward prices

Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 47.60ppt and £53.02/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 - 13-03-2019

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