26th April 2019 | Posted by: Daniel Birkett | Market Analysis

Gas Power
Market Close Market Close
Gas prices displayed little movement during Thursday’s session, showing only minor gains by the day’s close. European energy markets traded slightly down, with coal and carbon markets recorded additional losses, providing resistance on the far-curve. Power prices inched higher yesterday despite a drop in coal and carbon, as gas and oil markets were bullish. Renewables were forecast to increase today which helped to pressure down the prompt but cooler weather limited bearish movement on the rest of the near-curve.
Market Open Market Open
The system has fallen slightly short this morning but three LNG deliveries are scheduled to dock in the UK over the weekend which will result in improved supply next week. Temperatures should remain around the seasonal norm, while fuel markets have weakened further, resulting in losses across the gas curve. Near-curve power prices are slightly up this morning while contracts further out display a small decrease. A cooler weather forecast for the weekend and an expected drop in wind levels has supported the front of the curve, while weaker commodities have weighed on longer-dated prices.

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

Brent Summary

Brent 1st-nearby prices reached a high of $75.6/b yesterday before traders cashed in on profits which led to a downward correction. The main market driver at present remains the situation regarding Iranian oil sanctions and OPEC’s response.

1-year forward prices

Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased – closing at 53.48ppt and £57.78/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 - 26-04-2019

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