20th November 2017 | Posted by: Daniel Birkett | Market Analysis

Gas Power
Market Close Market Close
Near-curve gas prices moved down on Friday with a mild weather outlook for the weekend and a slightly long system helping towards the losses. A recovery in the Pound helped towards downward movement at the back of the curve as oil and coal markets were stable. Power contracts followed the gas market and recorded losses on Friday, with little support provided by fuel markets. Stable wind generation was expected today, resulting in a small loss on the prompt, while a shift in currency markets helped to restrict gains at the back of the curve.
Market Open Market Open
Temperatures are expected to fluctuate this week, offering support to near-curve gas contracts as demand levels are forecast to be slightly higher than last week. Norwegian supply is also down due to planned maintenance, while a rebound in oil prices has helped towards gains on the far-curve, although a stronger Pound has helped to limit bullish movement. Movement on the power curve is more varied than its gas counterpart with an improved wind generation outlook for tomorrow helping to weigh on the prompt. The back of the curve displays relatively minor gains with a drop in coal and a stronger Pound providing some bearish resistance.

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

Brent Summary

Brent trades above $62.6/b this morning as traders wait for a decision on OPEC output with a meeting scheduled for the end of the month.

1-year forward prices

Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased – closing at 48.68ppt and £47.36/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 - 20-11-2017

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.