|Market Close||Market Close|
|Gas prices displayed losses across the curve yesterday following an improvement in UKCS production and LNG-send-outs. Warmer weather will also weigh on demand over the weekend, however, a rebound in oil prices offered support to the far-curve. However, planned maintenance at Norwegian facilities such as; the SEGAL pipeline, Nyhamma and Gullfaks is expected to start today and could offer support to prices next week.||Improved gas supply helped towards losses on the power curve on Thursday, although low wind levels supported the prompt. A stronger Pound provided some downward pressure but increases on the oil market restricted losses at the back of the curve.|
|Market Open||Market Open|
|The UK gas system is 2.6mcm long, with demand levels sitting 11mcm below the seasonal norm. Temperatures are expected to remain warm going into next week, although the LNG outlook is weak with no deliveries expected over the next fortnight. Maintenance at Norwegian facilities has begun today which will impact flows into the UK, while Brent has stabilised following yesterday’s gains. Movement across the gas curve is mixed as a result of these contrasting fundamentals.||Weak wind generation has been slightly offset by improved solar power this morning, although warm weather could lead to a slight rise in cooling demand over the weekend. Movement across the power curve is largely bearish as the Pound has strengthened once again and coal has dropped in price.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices have recorded strong gains as the effects of Hurricane Harvey have begun to calm down. Disruptions to US oil supply are now beginning to transfer to the world market and Brent now trades above $52.5/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 44.83ppt and £45.88/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.