19th December 2018 | Posted by: Natalie Ormrod | Market Analysis

Gas Power
Market Close Market Close
Prices fell yesterday driven down by a fall in spot prices, while the forward curve tracked the falling oil prices.  Milder weather, increased wind generation and a bearish oil market all had an impact on prices. Prices dropped on most contracts yesterday, except spot prices which made some minor gains. Far curve prices followed the drops in Coal and Gas prices.
Market Open Market Open
The system is balanced this morning, as the weather remains mild and demand is slowing leading up to Christmas.  Norwegian flows are increasing, Russian flows are stable, and LNG send-outs and storage stocks remain ample. Contracts across the curve have opened higher this morning, and are expected to remain on a bullish trend for the time being.  Carbon prices have been following a similar trend.

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

Brent Summary

Brent 1st-nearby prices have fallen significantly, to levels last seen in October 2017. The drop to $56.26/b is seen as a reaction to the ‘OPEC+’ deal reached on 7th December, which may not be enough to solve current problems.

1-year forward prices

Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased slightly – closing at 62.80ppt and £62.50/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 - 19-12-2018

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.