|Market Close||Market Close|
|Gas prices maintained their recent bullish trend on Tuesday due largely to unplanned outages in Norway as well as decreased LNG send-outs; resulting in a short system. The near curve was particularly affected by reports that the middle of May will see temperatures below the seasonal norm.||The power market followed the bullish trend of the gas curve, with prices lifted by unplanned outages at two separate nuclear units. Rises were however limited by reports that wind generation is currently 1GW above seasonal norms.|
|Market Open||Market Open|
|The UK Gas market has been relatively stable this morning, with the length provided by increased flows of LNG from the Langeled pipeline into the Easington terminal balancing the news of cold mid-May weather and higher than normal seasonal demand.||Similarly to gas prices, reports of seasonally low temperatures and reduced wind generation forecaste for May have given support to the near curve, although prices are being held down by news that the nuclear units that experienced outages should be back before the June delivery period begins.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Mixed results from April’s OPEC compliance figures provided bearish news with prices dropping to a new monthly low of $50.14/b towards market close, though prices have bounced back this morning with reports of declining US inventories.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased – closing at 43.24ppt and £42.50/MWh, respectively.
Today’s prices can also be found in an easy to read table on our ‘current UK energy price' page.
Click to enlarge graph
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.