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.
Prompt gas prices stabilised yesterday afternoon following early morning losses, although some far-curve prices found support from a rise in Brent. The return of the interconnector resulted in an increase in exports to mainland Europe but the UK system remained oversupplied despite higher gas-fired power demand.
Gas prices displayed strong gains yesterday with an on-going issue at Elgin-Franklin and unplanned outages in Norway restricting flows to the UK. Exports to mainland Europe were also expected to resume today as the IUK pipeline is scheduled to restart. Oil and coal markets also displayed a rebound which transferred to far-curve gas contracts.
The National Grid claims it has hit its demand side response targets two years ahead of schedule, with plans to open the ‘ultimate flexibility market’.
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Gas prices displayed losses across the curve on Tuesday as the system was oversupplied due to low demand and improved flows from Norway. The warm weather outlook is set to continue into the weekend, which further weighed on the prompt. However, downward movement at the back of the curve was restricted by a bullish outlook for coal and oil.