14th March 2019 | Posted by: Daniel Birkett | Market Analysis

Gas Power
Market Close Market Close
Gas prices continued to move down on Wednesday as traders left their positions as the winter period comes to a close. Storages are close to capacity and flows into the UK are strong. Meanwhile, oil was the only market to increase during a very bearish session. Weaker gas prices weighed on their power counterparts yesterday, with further bearish pressure provided by a drop in coal. Renewable generation levels were strong, reducing the need for gas-fired power, with a milder weather outlook also contributing to decreases at the front of the curve.
Market Open Market Open
The downward trend has subsided a little this morning, following healthy losses yesterday. The supply/ demand picture is unchanged and remains very comfortable, while fuel markets have inched slightly higher, limiting losses on the far-curve. Power markets have moved slightly higher but haven’t come close to erasing yesterday’s gains. Stronger coal, carbon and oil markets have provided support to some contracts but weak gas has limited upward 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 increased to their highest levels of 2019 so far overnight but have retraced their steps a little this morning as a scheduled meeting between Chinese and US officials has been postponed.

1-year forward prices

Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 46.80ppt and £51.65/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 - 14-03-2019

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