16th May 2019 | Posted by: Libby Fraser | Market Analysis

Gas Power
Market Close Market Close
An oversupplied system pressured the prompt yesterday, despite an up in demand from the previous day. There were late gains on the far curve as strength in the Carbon and Oil markets supported the curve. Power prices in the UK made very minor gains from the spot through to the balance of summer, in the meantime longer dated contracts showed a more pronounced move.
Market Open Market Open
This morning the NBP system is well supplied, with 10.9mcm length in the grid. Today, wind generation has picked up, allowing for a 10mcm reduction in NTS power station gas demand helping to reduce demand level seen yesterday. Power markets this morning are relatively neutral, fluctuating between strength and weakness with a close eye to carbon prices and feedstocks. Carbon has been the positive ruler for most of the morning so far. Oil holds its gains from the rally on Wednesday.

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

Brent Summary

Supported by tensions in the Middle East, Brent crude oil jumped $1.41/bl to $72.28/bl.

1-year forward prices

Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 50.93ppt and £54.35/MWh, respectively.

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

Energy price graph - 16-05-2019

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