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

Gas Power
Market Close Market Close
Near-curve gas prices decreased on Wednesday thanks to an oversupplied system, as milder weather reduced demand levels. The losses filtered through to the rest of the curve, with coal and oil markets also showing weakness. Power prices followed their gas counterparts yesterday with near-curve prices showing a sharp decrease and the far-curve displaying minor downward movement. Meanwhile, coal and oil markets eased down but carbon offered some resistance.
Market Open Market Open
Gas prices display little movement this morning with the system close to balance and little change to weather forecasts. Coal and oil markets remain slightly bearish, while power contracts provide little direction. Trading on the power curve is minimal this morning as gas prices are stable, coal and oil are slightly bearish and carbon displays a small increase. Wind levels have picked up as expected, weighing on the prompt, while warm weather is expected over the weekend.

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

Brent Summary

Brent 1st-nearby prices display a small loss this morning ahead of the release of today’s EIA report which is expected to provide bullish sentiment.

1-year forward prices

Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 50.25ppt and £54.00/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 - 30-05-2019

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