|Market Close||Market Close|
|Gas prices moved down during yesterday’s session with bearish pressure provided by a drop in coal, carbon and power prices. An oversupplied system also helped to weigh on the near-curve, with numerous LNG deliveries arriving in the UK resulting in high send-outs.||Losses could be observed across the power curve on Wednesday as prices followed their gas counterparts, with further direction provided by weaker coal and carbon. However, weak wind generation limited downward movement on the prompt.|
|Market Open||Market Open|
|The system has fallen short this morning due to an unplanned outage in Norway which has reduced flows by 20mcm. Demand levels are also slightly higher as exports to Belgium have resumed. As a result, downward movement on the gas curve is limited, with cooler weather also expected over the weekend.||Power prices continue to decrease this morning with the exception of the prompt which has been pushed higher by cooler weather and low renewable availability. Further out, falling coal and carbon markets continue to apply bearish pressure.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices display a small increase this morning with direction coming from the Venezuelan crisis, although the latest EIA report showed a rise in crude inventories which provided resistance.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 48.80ppt and £53.20/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.