18th November 2019 | Posted by: Daniel Birkett | Market Analysis

Gas Power
Market Close Market Close
Gas prices inched higher on Friday, with a rise in demand contributing to gains at the front of the curve, while an increase in coal and oil offered support to contracts further out. Power prices moved higher on Friday, mirroring changes on the gas curve and ignoring a drop in carbon. A rise in coal and oil dictated both markets, with the prompt finding additional support from an expected decline in wind generation at the start of this week.
Market Open Market Open
The UK gas system is undersupplied this morning as colder weather has lifted demand and a drop in wind levels has resulted in more gas-fired power generation. However, a healthier supply/ demand outlook has limited upward movement on the near-curve. Power prices have been dictated by bearish sentiment across all energy markets this morning, with coal, gas and carbon all displaying losses. Milder weather is also expected over the next couple of weeks also helped to weigh on contracts.

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

Brent Summary

Brent 1st-nearby price are stable and trade below $63/b following some bullish movement on Friday. Support was provided by fresh optimism in regards to a trade deal between the US and China being negotiated.

1-year forward prices

Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity displayed a gain – closing at 43.75ppt and £48.35/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 - 18-11-2019

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