|Market Close||Market Close|
|Prompt gas prices moved higher on Thursday, with Day-Ahead in particular recording a huge increase on the back of a warning issued by the national grid which requested additional flows from Europe in order to meet demand. Freezing temperatures offered support to the rest of the near-curve but contracts further out moved down, taking direction from weaker coal and oil markets.||Power prices followed the gas market yesterday, with the prompt displaying a significant increase due to concerns in regards to gas supply in the UK. Wind generation was expected to remain strong today, limiting some of the upward movement, while a drop in Brent and APi2 coal pressured down contracts at the back of the curve.|
|Market Open||Market Open|
|Day-Ahead gas has almost erased yesterday’s massive gains ahead of a milder weather and improved supply outlook for next week. Movement across the rest of the curve is mixed but minimal, with falling coal and oil continuing to apply bearish pressure at the back of the curve.||Like gas, the prompt displays a strong loss ahead of improved fundamentals next week. Milder temperatures are expected from Monday, while healthy wind generation is expected over the weekend before falling next week. Further out, fuel markets remain bearish and have restricted any upward movement.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent weakened further yesterday on top of the strong losses recorded on Wednesday following the release of the latest EIA report, although prices have rebounded to $63.8/b, overall market sentiment remains bearish.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 46.39ppt and £46.24/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.