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

Gas Power
Market Close Market Close
Gas prices moved down during Tuesday’s session with direction coming from a drop in coal, power and carbon markets. There is a cold weather outlook as we head towards the weekend but this has been offset by an expected rise in wind generation. Power prices tracked the movement of gas and decreased yesterday, with falling coal and carbon a contributing factor. The expectations of increased wind generation applied additional bearish pressure to the front of the curve, with a colder weather forecast having little impact.
Market Open Market Open
The UK gas system is oversupplied this morning despite a drop in flows, while storage levels are close to capacity. As a result, gas prices display small losses, with a further decrease in coal and carbon weighing on the far-curve. Commodity markets remain bearish this morning with the exception of oil, resulting in weaker power prices. Further downward pressure was also provided in France, as the nuclear regulator announced there would be no need for shutdowns at reactors due to safety issues.

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

Brent Summary

Brent 1st-nearby prices moved higher yesterday afternoon as the IEA reported that US crude stocks decreased for the first time in six weeks; Brent opened around $61.2/b this morning.

1-year forward prices

Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 45.53ppt and £49.93/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 - 24-10-2019

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.