|Market Close||Market Close|
|Near-curve gas prices decreased on Tuesday with the help of an oversupplied system and a strong rise in LNG send-outs, following fresh deliveries to the UK. Coal prices also weakened which helped to weigh on contracts further along the curve.||Power prices followed their gas counterparts and moved down yesterday, with a drop in coal helping longer dated contracts to weaken in value. Wind levels were expected to rise today, which will reduce reliance on gas-fired power but a colder weather outlook limited any impact on the prompt.|
|Market Open||Market Open|
|Sentiment on the gas curve is unchanged this morning as the system has opened 30mcm long despite demand levels sitting above the seasonal norm and higher exports to Europe. Supply levels are extremely comfortable, resulting in further losses on the near-curve, however a rebound on commodity markets has limited downward movement further out.||Weaker gas and a milder weather outlook has helped the prompt open at a discount this morning, with front-month also showing a loss. Meanwhile, contracts further along the curve are slightly bullish following a rebound on coal and carbon markets. Traders will be keeping an eye on Brexit developments as a no-deal outcome could have a significant impact on carbon prices.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices display additional gains this morning as the outlook is unchanged, with oil contracts finding support from a global drop in supply; Brent currently trades just below $69.4/b.
1-year forward prices
Market close data has revealed that the 1-year forward price for commercial gas decreased slightly, while commercial electricity moved higher – closing at 46.55ppt and £50.87/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.