|Market Close||Market Close|
|Gas prices decreased ahead of the June-19 expiry, with further bearish pressure provided by a warm weather outlook and high storage levels. A sharp drop in oil prices weighed on contracts at the back of the curve, with coal and carbon also displaying a loss.||A drop in oil prices had a knockdown effect on other commodity markets, with feedstocks taking a significant hit which led to price-drops on the power curve. Gas, coal and carbon markets also declined during a bearish session.|
|Market Open||Market Open|
|The system is 48mcm long this morning as maintenance on pipelines has resulted in Norwegian flows ending their route in the UK. Storage levels and export capacity will benefit from this excess supply which has resulted in losses on the near-curve, while oil continues to weigh on the far-curve.||Power contracts have moved down further this morning with coal, gas and oil continuing to shed from their price. Renewables are healthier than last week’s levels, with warmer weather also reducing demand.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices show further losses this morning following strong bearish movement on Friday. Bullish factors such as Iranian sanctions and OPEC production cuts have fallen to the wayside and instead, markets find support from the US, with the on-going trade war with China and a new trade dispute with Mexico causing uncertainty.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 47.33ppt and £52.40/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.