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

Gas Power
Market Close Market Close
Gas prices were little changed during Wednesday’s session and ended the day slightly higher. The near-curve found support from scheduled maintenance which will limit flows into the UK, while a weaker Pound added to bullish sentiment on the far-curve. Power prices eased down yesterday, helped by a drop in coal & carbon, although any losses were very limited due to a slight rise in gas and a weaker Pound. The prompt displayed one of the larger decreases as wind levels were expected to improve today.
Market Open Market Open
The UK gas system is balanced this morning due to a drop in demand as wind levels have improved, reducing the need for gas-fired power. However, Norwegian flows have decreased as expected, limiting downward movement at the front of the curve, while the far-curve is generally flat. The power curve continues to display a bearish trend this morning as coal, carbon and gas eased down. Wind levels are expected to decrease slightly tomorrow which has lifted the prompt, while warmer weather is expected over the weekend which could lift cooling demand.

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

Brent Summary

Brent 1st-nearby prices sit around $60.3/b this morning following a slight downward correction in the wake of the latest EIA report and bearish comments made by the Federal Reserve.

1-year forward prices

Market close data has revealed that the 1-year forward price for commercial gas displayed a minor gain, while commercial electricity was unchanged – closing at 46.31ppt 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 - 22-08-2019

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