|Market Close||Market Close|
|Gas prices moved down on Tuesday, ahead May-19’s expiry with little direction provided by commodity markets. Supply levels were restricted by unplanned outages in Norway during previous sessions but some of these issues were resolved and flows increased, resulting in losses on the near-curve.||Power contracts followed the gas market and decreased yesterday, although a rise in coal and carbon offered resistance further along the curve. The prompt was an exception to the bearish sentiment, with support provided by weak wind generation.|
|Market Open||Market Open|
|The UK gas system is 30mcm long this morning despite a drop in temperatures, as LNG send-outs are close to record highs. Elsewhere, the Interconnector is back online today which will lead to a rise in exports. This healthy supply picture has contributed to losses on the near gas curve, while weaker fuel markets have weighed on the far-curve.||Coal, oil, carbon and gas markets are all slightly down this morning which has resulted in further losses on the power curve. A mild weather outlook has helped to pressure down the prompt and the near-curve but low renewable availability remains a supportive factor.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1-st nearby prices are slightly lower this morning with no fresh news to offer support to the market. Traders continue to wait and see how OPEC will react to sanctions on Iranian exports.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 50.39ppt and £54.43/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
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.