24th October 2018 | Posted by: Daniel Birkett | Market Analysis

Gas Power
Market Close Market Close
Gas prices moved down on Tuesday with weaker stock markets and a drop in oil weighing on contracts across the curve. A decrease in both LDZ and CCGT demand, combined with comfortable supply also applied additional bearish pressure to the prompt. The majority of power contracts eased down yesterday with help from lower coal, gas and oil markets. The prompt found support from an expected drop in wind levels today, although the short term forecast remained healthy.
Market Open Market Open
Gas prices display a rebound this morning as oil, coal and carbon prices have recovered. A short system was a factor behind gains at the front of the curve as a drop in wind levels has lifted CCGT demand, cold weather is also expected over the weekend which will lift heating demand. Power prices are up this morning, tracking gas, coal, carbon and oil markets which all display a rebound. A drop in wind levels and a colder weather outlook have played a part in losses at the front of the curve, although a comfortable gas supply picture has offered some resistance.

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

Brent Summary

Brent 1st-nearby prices decreased yesterday, falling to their lowest levels for almost two months. Bearish sentiment surrounding the global economy and concerns regarding trade deals continued to dictate the market.

1-year forward prices

Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased – closing at 65.03ppt and £62.29/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 - 24-10-2018

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