29th August 2018 | Posted by: Lawrence Carson | Market Analysis

Gas Power
Market Close Market Close
After the UK market was closed on Monday, prices rose, catching up with continental markets. Although the decision to suspend strike action planned for the 3rd September helped lower fears of supply. A lack of wind and nuclear power, slightly higher demand and rising fossil fuel prices all contributed to prices remaining at a high level. Further out, power prices halted after recording recent highs.
Market Open Market Open
With less concern over UK production, this could lower near curve gas prices today, especially as they are trading at overbought levels. The far curve suggests bearish behaviour as oil, EUA and coal prices are expected to weaken. A rebound in wind power should see day ahead prices decline for delivery tomorrow. Overall, a stable to bearish outlook for today.

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

Brent Summary

Brent has broken the $75/b level and is currently trading partially below $76/b, such level was last seen in Mid-July.

1-year forward prices

Market close data revealed that the 1-year forward price for both commercial gas and commercial electricity increased – closing at 66.03ppt and £65.38/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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