19th February 2019 | Posted by: Daniel Birkett | Market Analysis

Gas Power
Market Close Market Close
Gas prices moved down yesterday with direction coming from bearish European markets. A milder weather outlook also continued to weigh on the near-curve, with a flurry on LNG deliveries also a factor. A drop in carbon, coal, gas and feedstock prices applied bearish pressure across the power curve on Monday. Renewables were also expected to rise over the coming days, while temperatures should sit above the seasonal norm, helping towards losses at the front of the curve.
Market Open Market Open
Stronger renewable generation has reduced the need for gas-fired power, while warmer weather should see a decrease in residential consumption. In addition to this, the system has opened slightly long thanks to healthy LNG send-outs and as a result, gas prices display further losses this morning. Milder weather and improved wind levels have helped prompt power prices to decrease this morning. Biomass feedstocks have stabilised somewhat but weaker gas has contributed to downward movement at the back of the curve.

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

Brent Summary

Brent 1st-nearby prices have settled this morning following strong bullish movement in previous sessions. US traders will return to action after President’s Day which could result in price movements but the overall context is unchanged.

1-year forward prices

Market close data has revealed that the 1-year forward price for both commercial gas & commercial decreased – closing at 51.68ppt and £54.00MWh, 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 - 19-02-2019

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