|Market Close||Market Close|
|Day-Ahead gas fell close to a seven-year low yesterday on the back of significant oversupply and low demand in the UK. The Rough storage facility remains unavailable for storage injections which led to exports to Belgium reaching their capacity, with the remaining storage sites in the UK close to being full. Furthermore, additional Norwegian flows could be redirected to the UK due to maintenance at the Zeebrugge pipeline over the next few days.||Comfortable renewable generation and a bearish gas market helped power contracts to shed from their price yesterday. Healthy wind levels are expected to continue over the coming days, while temperatures remained around the seasonal norm and consumption levels were stable.|
|Market Open||Market Open|
|Exports to Belgium remain high this morning due to supply issues on the continent as a result of on-going maintenance at gas facilities. Meanwhile, the UK gas system is oversupplied once again following a rise in LNG send-outs, with 4 deliveries expected to dock in the UK in the first half of this month. As a result, prices across the curve have moved down with falling Brent a contributing factor.||Power contracts have decreased this morning with bearish pressure provided by their falling gas counterparts, with weaker coal and oil prices also a factor. The prompt has shed £2.80/MWh from its price thanks to a healthy wind generation forecast for tomorrow, while Winter-17 was dictated by gas and shed £0.65/MWh from its price.|
Brent 1st-nearby prices have posted a loss of close to $1/b this morning with direction coming from bearish stocks report in the US; Brent currently trades just below $47.2/b.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased - closing at 37.75ppt and £41.62/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.