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

Gas Power
Market Close Market Close
Near-curve gas prices dipped yesterday thanks to an oversupplied system and a warm weather outlook; additional LNG cargoes are also expected to dock in the UK. Meanwhile, coal and carbon markets moved down and oil stabilised, weighing on the far-curve. Power prices followed gas and moved down with falling biomass feedstocks and weaker carbon a factor. Temperatures were revised higher for the coming weeks, while an expected rise in solar power should offset a drop in wind levels
Market Open Market Open
Gas prices remain bearish this morning despite a slightly short system, with downward pressure provided by weaker fuel markets. However, geopolitical events could support the market in the near future, such as the US/ China trade dispute and talks of a possible Brexit delay. Power prices are slightly bearish again as feedstocks continue to decrease and the overall energy complex remains rather weak. A rebound, or at least some bullish resistance cannot be ruled out as traders could cash in on profits ahead of the weekend.

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

Brent Summary

Brent 1st-nearby prices have stabilised with no fresh news to support the market and no clear direction provided by the latest EIA report.

1-year forward prices

Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 51.51ppt and £53.56/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 - 22-02-2019

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