|Market Close||Market Close|
|Milder temperatures are expected in the UK next week and exports to Belgium decreased, helping towards losses on the near gas curve yesterday. The Pound also strengthened against the Euro as it is likely that the UK will be willing to pay to access the EU Common Market; further weighing on gas contracts.||Power contracts moved down yesterday afternoon as the Pound showed some recovery, erasing some of the morning's gains which were caused by rising fuel markets. The prompt was the exception to the downward movement as restricted capacity at the IFA interconnector until the New Year will cause supply constraints.|
|Market Open||Market Open|
|Norwegian imports into the UK are lower this morning due to maintenance at Emben and Heimdal. Meanwhile, demand levels are expected to increase on Monday before dropping throughout the week due to milder weather. The improved supply outlook for next week has contributed to losses at the front of the curve, although strengthening oil has restricted downward movement further out.||The power curve displays losses this morning as temperatures are expected to rise to at least 2 °C above the seasonal norm. Weakening gas contracts and a stronger Pound also applied bearish pressure, with rising Brent failing to offer much support.|
Brent 1st-nearby prices continue to climb higher following news of the OPEC deal and currently trade just below $53.4/b. The focus is now on how the deal will be implemented and a committee has been established to help monitor production in Nigeria and Libya.
1-year forward prices
Market close data has revealed that the 1-year forward price for commercial gas increased slightly, while commercial electricity posted a loss - closing at 44.88ppt and £44.98/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
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