|Market Close||Market Close|
|A warm weather forecast and the expected delivery of 4 LNG cargoes over the Bank Holiday weekend helped to weigh on gas prices during Friday’s session. However, rising oil helped to limit losses further along the curve.||Power prices were largely bearish on Friday, with warm temperatures the main market driver at the front of the curve. Far curve contracts were more resilient due to a rebound financial markets.|
|Market Open||Market Open|
|Despite an oversupplied system and a warm weather outlook for most of June, gas prices have increased this morning. The curve has been dictated by a high CCGT demand outlook on the back of weak renewable power, while maintenance season at gas facilities also provides support.||Power follows gas and trades higher, with weak wind generation and reduced supply dictating short term prices. Further out, contracts have also moved higher, following strengthening commodities.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent Crude has climbed above $70/b ahead of today’s OPEC meeting when a gradual easing of production cuts is likely to be agreed.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased, closing at 60.40ppt and £73.56/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.