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.
Gas prices moved down across Europe as the overall energy complex was bearish. Warm temperatures are set to continue over the coming weeks which will keep residential demand low, while a slight increase in wind levels weighed on CCGT demand.
Gas prices were bullish at the start of Wednesday’s session but fell sharply in the afternoon and ended the day almost unchanged. Support was provided by the oil market but a balanced system and an expected drop in CCGT demand today helped prices at the front of the curve move down.
Gas prices were slightly bullish yesterday with marginal gains displayed on fuel markets and a slight drop in supply offering support to the curve. UKCS flows were restricted by industrial action taking place at gas fields, while CCGT demand remained high due to weak wind generation.
Gas prices moved higher yesterday afternoon due to a short system and a rebound on the coal market. Low renewables lifted CCGT demand, contributing to the undersupplied system. Carbon prices also remained bullish and additional support was provided by planned industrial action at sites in the UKCS.