|Gas prices displayed mixed movement yesterday, with an expected rise in gas-fired power helping to lift the prompt, while milder weather weighed on the front-month contract. Further out, movement was generally bearish as coal, oil and carbon displayed losses.
|The majority of power prices moved down yesterday, although the prompt was one exception to the bearish trend with support provided by weak renewable availability. Meanwhile, a drop in coal and carbon helped to weigh on far-curve prices.
|Higher exports to Europe, combined with restricted flows from Norway has resulted in an undersupplied system this morning which has helped to support the near-curve. Further along the curve, prices are generally unchanged as commodity markets have opened flat.
|Fundamentals are little changed this morning and minimal direction has been provided to the power curve. Fuel markets have opened almost unchanged, while weather forecasts have seen no recent revisions.
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices have dropped to around $62.4/b with direction provided by the economic slowdown, with the impact of the extended production cuts short-lived.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 45.85ppt and £51.95/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.