13th November 2018 | Posted by: Daniel Birkett | Market Analysis

Gas Power
Market Close Market Close
Gas prices climbed higher on Monday as weather forecasts point to a cold spell later in the month, while coal and carbon markets also increased. The larger gains were displayed at the front of the curve despite a long system. Power prices displayed gains yesterday on the back of a colder weather outlook and a rise in biomass feedstocks. Traders moved to cover their short positions, while additional bullish pressure was provided by rising coal, gas and carbon prices.
Market Open Market Open
The UK gas system has opened balanced this morning due to a drop in Norwegian supply, while LNG send-outs in Europe have also decreased slightly. Coal continues to climb higher, offering support to the far-curve, while Brent is almost unchanged. Power contracts are marginally weaker this morning as carbon markets have settled down and oil continues to hold its price. Stronger coal remains a bullish factor at the back of the curve, while an expected drop in temperatures restricts downward movement on the near-curve.

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

Brent Summary

Brent 1st-nearby prices are little changed from yesterday’s open despite a brief rebound in the afternoon, however, prices soon corrected down and trade just above $70.1/b this morning.

1-year forward prices

Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased – closing at 62.75ppt and £61.12/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 - 13-11-2018

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