22nd January 2019 | Posted by: Daniel Birkett | Market Analysis

Gas Power
Market Close Market Close
Gas prices recorded strong losses yesterday as milder weather was forecast towards the end of the month, while LNG send-outs are healthy. Coal, power and carbon markets also eased down, further weighing on prices. Power prices moved down on Monday as biomass feedstocks, gas, coal and carbon markets all displayed losses. Milder weather is expected over the weekend and next week which also added to the bearish sentiment.
Market Open Market Open
The UK gas system is oversupplied this morning as supply levels are comfortable, helped by strong LNG and storage send-outs. However, bearish movement on the curve has slowed, with power and coal markets offering some resistance. Power prices have strengthened slightly as coal and carbon markets have rebounded and losses on the gas curve are not as strong as yesterday. Overall fundamentals remain bearish and any gains are thought to be technical as the power market appears overbought.

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

Brent Summary

Brent 1st-nearby prices are almost unchanged from yesterday’s open as fundamentals are unchanged, with an economic slowdown and OPEC production cuts acting as the main market drivers.

1-year forward prices

Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 58.02ppt and £60.33/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 - 22-01-2019

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