|Market Open||Market Open|
|Gas prices displayed a slight decrease on Friday afternoon as a result of an expected rise in Norwegian flows this week following the end of seasonal maintenance. Temperatures were also forecast to be rather mild during October which could weigh on demand levels. Further out, a downward correction in oil prices provided additional bearish pressure for some contracts.||Movement on the power curve varied on Friday with lower renewable generation and a decrease in temperatures providing upward pressure at the front of the curve. However, the drop in industrial demand over the weekend helped the prompt shed from its price, while the far-curve moved down along with weaker gas and oil markets.|
|Market Close||Market Close|
|Norwegian exports have returned to normal levels this morning but the rise is not as significant as expected and the impact on prices is minimal. UK exports to Belgium have decreased to cope with the rise in demand levels, while LNG send-outs are low due to a lack of deliveries. In other news, temperatures have been revised lower for next week and the overall sentiment on the gas curve is bullish, with oil prices also displaying a gain.||Near-curve power prices have found support from weaker wind generation, while a colder weather forecast for the second half of this month has helped to lift the rest of the near-curve. Contracts further out have tracked the movement of the gas market and have moved higher, with rising Brent also a factor.|
Brent 1st-nearby prices have climbed higher once again this morning and currently trade just above $50/b for the first time since the 8th of September. However, there are some uncertainties in regards to the proposed production cuts which were announced last week as both OPEC and Russian output has displayed an increase over the weekend.
1-year forward prices
Market close data has revealed that the 1-year forward price for commercial gas increased, while commercial electricity displayed a loss - closing at 43.23ppt and £44.22/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.