|Market Close||Market Close|
|Gas prices displayed losses across the curve on Wednesday with a significant drop in oil and coal prices sparking bearish movement on the far-curve. Whereas the front of the curve was dictated by an oversupplied system and a warm weather forecast.||Power contracts eased down yesterday with direction coming from gas, coal and oil markets. However, weaker wind levels were expected today, restricting downward movement on the prompt. Losses at the back of the curve were also slightly capped by bullish carbon prices.|
|Market Open||Market Open|
|The UK gas system has fallen short this morning as a drop in renewable power has increased CCGT demand; this has limited any bearish movement at the front of the curve. Meanwhile, coal prices continue to move down, while oil has stabilised, helping towards further downward movement at the back of the curve.||Renewable availability is set to decrease further tomorrow, helping the prompt climb higher, while the rest of the curve continues to take direction from falling oil. Oil and carbon prices have stabilised, providing little resistance, while the short-term weather forecast is unchanged.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices display a strong loss this morning and OPEC production has increased and crude inventories in the US display a rebound; Brent currently trades around $72.4/b.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 57.25ppt and £56.78/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.