24th September 2019 | Posted by: Daniel Birkett | Market Analysis

Gas Power
Market Close Market Close
Gas contracts traded down on Monday with Front-Month and seasonal contracts taking direction from weaker coal and carbon prices. Supply levels are also expected to improve in the coming weeks as Norwegian maintenance has ended and the LNG delivery schedule is healthy. Power prices tracked movement on the gas curve and decreased during yesterday’s session, with weaker coal and carbon also adding to the bearish sentiment. However, some near-curve prices displayed slight gains on the back of an expected rise in gas-fired power demand.
Market Open Market Open
UKCS production is down this morning and demand is higher, however, the system remains in balance. Despite this, some gas prices have climbed slightly higher but most are stable, with little direction provided by coal, power and carbon. Power prices are stable this morning with little support provided by gas and coal contracts. Gas demand is higher as expected but wind levels are also stronger, offsetting the effects. Meanwhile, renewable levels are expected to drop tomorrow, offering support to the prompt.

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

Brent Summary

Brent 1st-nearby prices increased yesterday afternoon but have weakened again this morning as the latest data from Europe and Japan points to reduced demand.

1-year forward prices

Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 46.85ppt and £52.30/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 - 24-09-2019

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