23rd January 2019 | Posted by: Daniel Birkett | Market Analysis

Gas Power
Market Close Market Close
UK gas prices displayed minor losses yesterday afternoon with help from a stronger Pound and an oversupplied system. Stronger power contracts limited any downward movement on the near-curve, while bullish coal and carbon offered resistance further out. Power prices were on the rise this morning as coal and carbon markets were supportive. A drop in temperatures also lifted demand, while renewable generation was weak, adding to the bullish pressure.
Market Open Market Open
Gas contracts have rebounded this morning with coal and oil markets both displaying gains. Cold temperatures have also seen the system fall short which has offered support to the near-curve. Further gains can be seen on the power curve this morning as coal, carbon, gas and oil markets all display gains. Milder temperatures are expected at the end of the month but the current cold spell continues to lift the near-curve.

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

Brent Summary

Brent 1st-nearby prices continue to fluctuate as traders are torn between a drop in production levels and a weak economic outlook. Brent currently trades around $61.5/b.

1-year forward prices

Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased – closing at 58.62ppt and £60.88/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 - 23-01-2019

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.