3rd September 2018 | Posted by: Lawrence Carson | Market Analysis

Gas Power
Market Close Market Close
Gas prices significantly dropped on Friday after improving Norwegian supply. Talks took place between Total and the trade union Unite with the view to suspend all strike action due for 17th September, 1st, 15th and 29th of October. Friday’s European power prices were generally mixed on Friday. On the spot they were mostly unchanged, further out on the far curve they were significantly lower.
Market Open Market Open
The supply/demand balance remains as fragile as recently seen, even after Friday’s strong losses we still cannot rule out a rebound for European spot and near curve prices. With the expected rebound in fuel costs coupled with nuclear problems in Belgium, the scale of profit taking could be limited today and lend support to Cal 2019 power prices.

For a breakdown of the current generation mix visit our Power Generation Insights page.

Brent Summary

Brent 1st-nearby prices stopped increasing and remained below $78/b. Prices remain ready to test $78/b again, however it is not expected to reach this point today.

1-year forward prices

Market close data revealed that the 1-year forward price for both commercial gas and commercial electricity decreased – closing at 66.68ppt and £65.28/MWh.

click to enlarge image.

energy price graph - 03-09-2018

Today’s prices can also be found in an easy to read table on our ‘current UK energy price' page.

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.