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

Gas Power
Market Close Market Close
Gas prices increased across the curve during Tuesday’s session with direction coming from rising fuel markets, with coal, carbon and oil all recording gains. The overall energy complex found support from the US, which announced it would delay imposing tariffs on China. Power contracts added to their price yesterday, following their gas counterparts and the broader energy picture, with carbon and biomass feedstock markets closing at a premium. However, an expected uptick in wind levels today limited gains on the prompt.
Market Open Market Open
The UK gas system is oversupplied this morning as flows into the UK from Norway have increased as some maintenance work was concluded. However, overall sentiment on the far-curve is still slightly bullish as oil continues to strengthen. Power prices are trading down slightly this morning as coal, carbon and feedstocks have weakened. Despite a small rise in wind levels, renewable power availability remains low but should improve as we head towards the weekend.

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

Brent Summary

Brent 1st-nearby prices rose by around 3% yesterday as US confirmed it would delay a 10% tariff on some Chinese imports which suggests the US/ Chinese trade war has eased.

1-year forward prices

Market close data has revealed that the 1-year forward price for commercial gas increased, commercial electricity recorded a loss – closing at 48.12ppt and £53.11/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 - 14-08-2019

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