|Market Close||Market Close|
|Day-Ahead gas climbed higher on Monday as a result of unplanned outages which impacted UKCS production and Norwegian imports. However, movement along the rest of the curve was minimal despite stronger coal prices, with resistance coming from an expected rise in Russian flows into Europe.||Weaker renewables resulted in higher CCGT generation yesterday which helped to support contracts on the near-curve, with stronger gas, coal and oil markets providing bullish pressure further out.|
|Market Open||Market Open|
|The UK gas system remains short today but LNG send-outs and Norwegian flows have increased. Gas-fired power demand is also set to fall over the coming days as wind levels are forecast to rise, while exports via the Interconnector will remain low. This combination of bearish factors have helped to weigh on gas contracts this morning, with stable coal and oil failing to provide support.||Near-curve power prices display losses this morning as wind generation is expected to ramp up tomorrow, reducing the need for more expensive gas-fired power; in addition, solar power is forecast to rise on Thursday. Further out, a bullish outlook for coal has helped to restrict downward movement.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices display additional gains, rising by almost $0.50/b since yesterday’s open. A further decrease in US oil inventories is expected and further upward movement could follow tomorrow’s EIA report.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 42.10ppt and £43.11/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.