|Market Close||Market Close|
|Gas prices posted gains towards the end of Friday’s session with cold temperatures contributing to above average demand levels. A drop in storage injections also provided additional strength to the Day-Ahead contract. Meanwhile, oil prices were rather volatile and helped to support contracts on the far-curve.||Power prices displayed a bullish trend on Friday with a sharp drop in wind generation contributing to gains on the prompt. Scheduled maintenance at power plants over the summer also provided upward pressure, while coal prices continued to strengthen.|
|Market Open||Market Open|
|Fundamentals are generally bullish this morning and gas prices have increased as a result. Temperatures are expected to remain below the seasonal norm until the middle of May and demand levels are forecast to be 8% above the average for this time of year. In terms of supply, LNG send-outs have decreased and two unplanned outages have reduced Norwegian flows, resulting in a short system.||Power prices have mirrored movement on the gas curve and have climbed higher this morning. Weaker renewable generation and above average consumption has supported near-curve contracts, with rising coal helping towards increases on the far-curve.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices are relatively stable at present, posting a loss of just $0.10/b since Friday’s open. A rise in Libyan output continues to provide downward pressure on prices, while a key OPEC meeting has been scheduled for the 25th of May.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased – closing at 43.15ppt and £42.95/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.