30th August 2018 | Posted by: Lawrence Carson | Market Analysis

Gas Power
Market Close Market Close
Strong gains posted for Gas prices yesterday, the main driver once again being the weak Norwegian supply. Reports from Gassco yesterday announced the unplanned outage at the Asgard field will last 3-4 weeks instead of the original 2 weeks. The rise in oil and coal prices was also supportive. Power margins were corrected downwards yesterday, Q4-18 contracts rose again rather sharply, as power markets are driven by tight short term fundamentals.
Market Open Market Open
It is looking like the trend should remain bullish for near curve gas prices today. Further out, a bullish outlook is also favoured as oil, EUA and coal prices are expected to continue to strengthen. A bullish start to the day today, power is up further with continued strong inputs from the fuels complex. A stable to bullish outlook is predicted for the remainder of today.

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

Brent Summary

Brent first nearby contract posted strong +$1.1/b intraday gains with a brief maximum at $77.4/b.

1-year forward prices

Market close data revealed that the 1-year forward price for commercial gas increased – closing at 66.03ppt, whilst commercial electricity remained halted at £65.38/MWh.

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Today’s prices can also be found in an easy to read table on our ‘current UK energy price' page.

If you would like to learn more about how Apollo Energy can help your business find the best deal on its gas and energy contracts then feel free to get in touch by calling us on 01257 239500 or using the form on our contact form.