|Market Close||Market Close|
|Near-curve gas prices displayed a small gain on Wednesday as the August contract expired and a fresh batch of maintenance is set to take place in Norway which will reduce flows into the UK. Prices corrected down a little before the end of the session but the majority of contracts closed at a premium.||Power contracts were bullish yesterday as renewable generation is set to decrease over the coming days, while an increase in gas prices was also a factor. Further out, contracts have found support from a rise in oil and carbon prices.|
|Market Open||Market Open|
|The system is balanced this morning as Norwegian flows are down and gas-fired power generation has increased due to weak wind levels. Meanwhile, oil and power markets have strengthened and coal is stable which has helped towards increases across the gas curve.||Low wind levels have contributed to additional gains on the power curve this morning, with other generation sources picking up the shortfall. Carbon and oil markets also display another increase, with a cut to interest rates in the US causing market uncertainty.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices continue to climb higher as US Federal Reserve has cut interest rates by 0.25% and US inventories are lower than expected. Brent now trades above $65/b.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased – closing at 49.42ppt and £55.01/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.