|Gas prices moved marginally higher at the front of the curve on Friday, whereas contracts from Front-Month onwards traded lower. European markets displayed mixed movement, while commodities were bullish overall.
|Power prices climbed higher across the curve on Friday, pushed upwards by an increase in coal and carbon. A warmer 15-day weather outlook is also expected to lift demand for cooling, adding to the bullish sentiment at the front of the curve.
|The UK gas system has opened slightly short this morning, resulting in some gains across the near curve. Upward movement further out is less significant as oil is trading lower, while coal and carbon display minor increases.
|Power contracts display minor increases this morning, supported by rising coal, gas and carbon. Wind levels have also more than halved from Friday’s levels, while demand is expected to grow later in the week.
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices trade around $43.5/b today, with the end of agreed OPEC production cuts resulting in more supply entering the market and offsetting any bullish factors. The increase in Coronavirus cases could also lead to further lockdowns, reducing global demand.
1-year forward prices
Market close data has revealed that the 1-year forward price for commercial gas moved down, while commercial electricity increased, closing at 30.20ppt and £42.48/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.