|Market Close||Market Close|
|Gas prices initially opened at a premium yesterday but decreased as the session progressed. Warmer temperatures are now expected as we close in on the weekend which will result in lower demand, allowing storage injections to take place. Planned maintenance in Norway and an unexpected outage at St Fergus provided resistance, while LNG deliveries will be sparse over the coming weeks.||A slight rise in gas-fired power generation was forecast for today due to reduced solar levels, helping the prompt record a small gain. The rest of the curve eased down in the afternoon on the back of a warmer weather outlook for the Bank holiday weekend. Meanwhile, a downward correction in Brent weighed on prices at the back of the curve.|
|Market Open||Market Open|
|The system has opened 7mcm short this morning as demand levels have ticked higher. However, a warmer weather outlook continues to pressure down the near-curve, with temperatures potentially rising to 5/6 °C above seasonal normal from Sunday onwards. Losses at the back of the curve are less prominent as the oil market has stabilised following yesterday’s losses.||Renewable levels are expected to decline slightly tomorrow and temperatures will remain below the seasonal norm; resulting in a small gain on the prompt. A weaker demand outlook for the weekend and the start of next week has resulted in losses on the rest of the near-curve, while the far-curve shows minimal downward movement with little support provided by fuel markets.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices moved down yesterday afternoon but have recovered slightly this morning, with direction coming from potential sanctions which could be placed on Iran in a couple weeks.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 52.10ppt and £51.60/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.