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

Gas Power
Market Close Market Close
Gas prices displayed gains during Thursday’s session with support provided by rising oil, coal, power and carbon markets. The system was balanced throughout the session thanks to a drop in gas-fired demand which offset the impact of weak Norwegian supply. Power prices displayed varied movement yesterday despite upward movement on fuel markets. Warmer weather could result in increased cooling demand next week which provided additional support but healthier renewable generation contributed to some losses at the front of the curve.
Market Open Market Open
The UK gas system is oversupplied this morning as demand has weakened further. Coal and oil have also opened slightly lower, capping gains at the back of the curve, with the majority of contracts showing little change at the start of the session. Power contracts have been pushed higher by a rise carbon prices, with little direction provided by coal, gas and oil markets. Meanwhile, renewable levels should be stable over the weekend which has helped the prompt open at a discount.

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

Brent Summary

Brent 1st-nearby prices climbed higher yesterday due to a strong decrease in US stocks and the forecast of a hurricane in the Gulf of Mexico which is expected to halt production in the region.

1-year forward prices

Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased – closing at 44.90ppt and £50.55/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 - 30-08-2019

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