24th August 2018 | Posted by: Lawrence Carson | Market Analysis

Gas Power
Market Close Market Close
Gas prices have increased across the curve due significant moves on the carbon market. In addition, flows from Norway have also decreased due to planned maintenance which has provided additional support to the front of the curve. Power prices rallied higher on the back of further increases on gas, carbon and coal markets. A stronger wind generation forecast has helped to provide resistance at the front of the curve, but the overall sentiment remained bullish.
Market Open Market Open
Gas prices continue to move higher this morning as the system is under-supplied due to low Norwegian imports. A colder weather forecast for the weekend has also contributed to today’s price increases. Further out, contracts continue to follow rising commodity markets. Power prices continue to follow the carbon market this morning and have posted further gains. However, wind levels increased as expected and this helped to restrict the upward movement at the front of the curve.

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

Brent Summary

Brent is unchanged following strong upward movement yesterday caused by the latest EIA report, however potential sanctions on Iran continue to provide resistance.

1-year forward prices

Market close data has revealed that the 1-year forward price for both commercial gas and commercial electricity increased – closing at 64.54ppt and £63.93/MWh, respectively.

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energy price graph

Today’s prices can also be found in an easy to read table on our ‘current UK energy price' page.

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.