21st August 2019 | Posted by: Daniel Birkett | Market Analysis

Gas Power
Market Close Market Close
Gas prices displayed minor gains yesterday, with weak wind levels resulting in a rise in gas-fired power demand. Further out, prices found support from bullish movement on coal and oil markets, which displayed small increases. Like gas, power prices displayed modest gains, although a drop in carbon limited some upward movement on the far-curve. Meanwhile, the prompt displayed a loss as wind levels were expected to pick up over the rest of the week.
Market Open Market Open
The UK gas system has opened slightly long this morning as storage levels are at capacity, resulting in excess supply due to a halt in injections. However, Norwegian maintenance continues to restrict supply into the UK, creating bullish sentiment at the front of the curve, while far-curve prices have followed rising oil. Coal and carbon markets are almost flat this morning and power prices display minimal movement as a result. Oil prices continue to rise, offering some support to the far-curve, while the prompt displays another loss due to improved wind generation.

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

Brent Summary

Brent 1st-nearby prices have climbed above $60/b due to optimism regarding US/ Chinese trade negotiations, combined with a general recovery on global markets.

1-year forward prices

Market close data has revealed that the 1-year forward price for commercial gas moved higher, while commercial electricity displays a loss – closing at 46.27ppt and £51.23/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 - 21-08-2019

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