16th August 2019 | Posted by: Lawrence Carson | Market Analysis

Gas Power
Market Close Market Close
The broader energy markets sold down yesterday, with UK gas market feeling the effects of this. At the front of the curve, gas dropped sharply, pulling longer dated contracts down also. Falling prices for coal, gas and a drop in carbon prices meant power prices were dealt lower around Europe and the UK yesterday. Curve contracts all retreated whereas some spot prices made minor gains.
Market Open Market Open
The gas system was oversupplied this morning after lower gas for power demand, resulting in day-ahead gas dropping 1.00p/th to 27.25p/th. The UK storage is full and wind output is expected to be strong, further easing demand from the power sector. Day ahead power has declined this morning as higher wind generation is expected tomorrow. However, a minor rebound in oil and coal is offering some support to the market.

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

Brent Summary

Brent crude oil slipped $2.54/bl to $58.25/bl, following an unexpected build in US crude stocks last week up 1.6mn barrels to 440.5mn barrels.

1-year forward prices

Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity recorded a loss – closing at 46.85ppt and £51.98/MWh, respectively.

click to enlarge graph.

energy price graph

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.