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

Gas Power
Market Close Market Close
Gas prices climbed higher across the curve on Wednesday, ignoring a healthy supply outlook and a weaker oil market. Instead, contracts found support from the expected cold stint and a rise in coal and carbon markets. Near-curve power prices inched down yesterday as healthy wind levels and a weaker demand outlook created bearish pressure. Further out, prices followed the gas market and moved higher, with support provided by stronger coal and carbon.
Market Open Market Open
The UK gas system is 35mcm long this morning as UK production has increased and LNG send-outs are healthy. However, gas prices display gains with on-going support provided by further increases on coal and carbon markets. Meanwhile, the prompt was pressured down by a healthy wind outlook for today which will reduce CCGT demand. Power prices display further gains this morning as temperatures have turned colder and carbon continues to rise. However, following Theresa May’s survival last night, the Pound has strengthened, capping some of the upward movement.

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

Brent Summary

Brent 1st-nearby prices are stable at the moment due to mixed sentiment across oil markets. Fundamentals are little changed and yesterday’s EIA report provided little direction.

1-year forward prices

Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased – closing at 62.51ppt and £61.58/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 - 13-12-2018

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