26th September 2018 | Posted by: Daniel Birkett | Market Analysis

Gas Power
Market Close Market Close
Gas prices moved down yesterday with an oversupplied system helping to weigh on near-curve prices, while the back of the curve found direction from a downward correction in European energy prices; coal, carbon and power all displayed a loss. The system remains long this morning and contracts at the front of the curve have shed from their price as a result. European fuel markets all continue to move down, providing further weight to the back of the curve, although oil remains bullish.
Market Open Market Open
Power prices were on the decline on Tuesday with near-curve prices following a drop in gas and carbon contracts. Weaker coal also helped towards some losses at the back of the curve but a weak Pound and bullish oil offered resistance. Power prices continue to follow weaker fuel markets this morning, with the exception of Brent. Meanwhile, milder temperatures are expected over the coming days, reducing residential demand, while an improved wind forecast should limit any gains on the prompt.

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

Brent Summary

Brent 1st-nearby prices climbed to a 4-year high on Monday and remain close to that level this morning, trading at $81.45/b. Support has been provided by tense financial markets and OPEC’s reluctance to increase output – read more here.

1-year forward prices

Market close data has revealed that the 1-year forward price for commercial gas displays a small loss, while commercial electricity decreased – closing at 72.63ppt and £68.95/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 - 26-09-2018

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