Apollo Energy publishes a daily energy market analysis, focusing on the gas, power and oil markets including a commentary on how the markets close and open. Our analysis provides insight on how the markets are performing and also considers various factors which could dictate price changes in the future.
The analysis also contains a graph which tracks the one-year forward price of both gas and electricity as well as changes to Brent crude oil.
The UK has seen a sharp drop in residential and commercial solar (PV) panel installations since the decision to scrap the Feed-In tariff (FiT). In order to revive the sector, the government has finalised a new, replacement scheme named the Small Export Guarantee.
Gas prices displayed little movement at the opening of Thursday’s session but moved down over the course of the day. Healthy supply levels helped to weigh on prices at the front of the curve, while movement further out was less significant with bullish resistance provided by a rise in coal and oil.
Gas prices decreased during Wednesday’s session due to comfortable supply; storage levels are extremely healthy and the LNG outlook is strong. Weaker coal, carbon and oil markets also applied downward pressure to contracts on the far-curve.
As of yesterday morning (Monday 3rd June), Great Britain has generated electricity without the use of coal for over 16 days. This is the first time the nation has produced energy without the fossil fuel over a two week period since the industrial revolution.