20th March 2019 | Posted by: Daniel Birkett | Market Analysis

Gas Power
Market Close Market Close
Near-curve gas prices displayed gains on Tuesday morning on the back of an undersupplied system. However, prices eased down as the session progressed as the supply picture remained comfortable with a number of LNG deliveries expected before the end of the month. Power contracts found support from European markets yesterday, with a slight rise in demand and weak renewables helping the prompt climb higher. Movement at the back of the curve was subdued as carbon and coal moved down, while gas and oil increased, almost cancelling each other out.
Market Open Market Open
The UK gas system has opened balanced this morning and short term weather forecasts have been revised higher, with renewables also expected to improve next week. As a result, gas prices have decreased this morning, with further bearish pressure provided by a drop in carbon and power. Prompt power prices have been pressured down by a milder weather forecast and an expected rise in renewables. The rest of the curve also displays losses thanks to a drop in gas and carbon, while coal is almost unchanged.

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

Brent Summary

Brent 1st-nearby prices have increased ahead of today’s EIA report with no new fundamentals available to end the bullish trend. The WTI benchmark has hit a 4-month high and trades close to $59/b, while Brent trades $67.61/b.

1-year forward prices

Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity moved down – closing at 44.26ppt and £49.59/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 - 20-03-2019

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.