30th April 2019 | Posted by: Daniel Birkett | Market Analysis

Gas Power
Market Close Market Close
Trading on gas markets was quite lively yesterday but prices still ended the session almost unchanged. Commodity markets moved in different directions which created mixed sentiment, while short-term fundamentals are healthy, limiting upward movement on the near-curve. Power prices displayed minor gains during Monday’s session with direction provided by a rise in carbon. Other markets were stable-to-bearish, while the prompt was pushed higher by a weak renewable availability forecast.
Market Open Market Open
The system has opened balanced this morning as supply levels are little changed but demand is lower. Temperatures have been revised down for the coming days and weak renewables should lift gas-fired power demand but healthy LNG send-outs should offset this rise in demand; movement on the near-curve is generally bearish as a result. Temperatures are expected to be around the seasonal norm, while wind levels will remain weak over the coming days, helping the prompt climb higher. Meanwhile, coal and carbon markets are slightly down, helping towards some losses further along the curve.

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

Brent Summary

Brent 1st-nearby prices have stabilised following a strong downward correction over the weekend, caused by Trump’s comments towards OPEC in regards to lowering oil prices. However, the decision not to extend waivers on Iranian exports continues to offer resistance.

1-year forward prices

Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 50.93ppt and £54.75/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 - 30-04-2019

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