14th May 2019 | Posted by: Libby Fraser | Market Analysis

Gas Power
Market Close Market Close
Crude oil contracts on Monday continued to trade lower, driven by lower demand caused by milder than expected weather. This combined with a healthy supply outlook as a further six LNG vessels are due to arrive before the end of May, provided a bearish outlook as gas markets closed yesterday. On Monday contracts continued to shed value, following the bearish trading within the NBP market. Winter 19 power went up £0.04/MWh to £57.49/MWh.
Market Open Market Open
This morning gas experienced mixed movements. As the gas system was oversupplied the day-ahead gas dropped 0.80p/th to 32.10p/th. Longer dated contracts have gained value in line with firming carbon markets. This morning, German power for the most part is unchanged with coal prices down slightly and carbon up modestly, while in the Nordics prices with the rising temperatures are lower.

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

Brent Summary

Brent crude oil curtailed $4.48/bl to $67.30/bl, amid growing US-China trade tensions, driving concerns of weaker economic growth and demand, offsetting worries of tighter supply. 

1-year forward prices

Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased– closing at 49.43ppt and £53.40/MWh, respectively.

Today’s prices can also be found in an easy to read table on our ‘current UK energy price' page. 

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.

                  Energy Price Graph - 14-05-2019