13th May 2019 | Posted by: Lawrence Carson | Market Analysis

Gas Power
Market Close Market Close
After a volatile week, gas prices fell on Friday. Rising temperatures and a change in the supply/demand balance were the reasons for the downward correction, leaving the gas system oversupplied. Power prices felt some pressure on Friday from lower carbon prices along with a corresponding move in gas prices. Aug-19 prices closed the day at £44.35/MWh, shedding £4.20/MWh from its opening price.
Market Open Market Open
Temperatures continue to rise this morning and the system is still oversupplied with volumes of around 30mcm in excess. Day-ahead gas prices have opened at 33.05p/th today, a considerable 5.30p/th lower than Friday’s opening price. Prices continue to be softer this morning with carbon, gas and coal all dealing lower. The 15 day weather outlook has been revised warmer with above normal temperatures now expected. Overall, a bearish outlook across all contracts.

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

Brent Summary

Brent crude oil recovered, rising $0.83/bl to $71.78/bl, as reports of tensions in the Middle East drive fresh concerns of a tighter oil market.

1-year forward prices

Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased– closing at 49.08ppt and £53.68/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.

If you would like to learn more about how Apollo Energy can help your business find the best deal on its gas and energy contracts then feel free to get in touch by calling us on 01257 239500 or using the form on our contact form.