|Market Close||Market Close|
|LNG shipments from Europe to Asia are expected to ramp up in the coming weeks which offered bullish resistance to the front of the gas curve on Monday. Further out, contracts were generally stable despite a rise in carbon and oil, while coal was unchanged.||Power prices were dictated by rising fuel markets, with carbon in particular displaying a strong increase. Oil and gas markets also traded higher, while coal held its price. The prompt found support from an expected drop in renewable availability today which will lead to a rise in gas demand.|
|Market Open||Market Open|
|The near gas curve displays gains this morning as the UK system has opened short due to a rise in gas-fired power generation and on-going maintenance in Norway. Meanwhile, carbon has strengthened further, offering support to longer dated contracts.||Sentiment is unchanged this morning with power prices moving higher on the back of stronger gas and carbon markets. Wind levels have almost halved compared to yesterday and cloud cover limits solar production, offering additional support to the prompt.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices climbed higher yesterday as OPEC members agreed to extend production cuts until March 2020. However, bullish movement was restricted by a weaker demand outlook and the global economic slowdown.
1-year forward prices
Market close data has revealed that the 1-year forward price for commercial gas increased slightly, while commercial electricity recorded a loss – closing at 47.08ppt and £52.77/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.