|Market Close||Market Close|
|Gas prices moved down on Wednesday, following global energy markets, with coal, oil and carbon all recording losses. A few near-curve prices were the exception to the bearish trend, with support provided by higher demand.||Power prices followed their gas counterparts with some upward movement at the front of the curve and losses further out. The prompt found support from an expected drop in renewable generation, while the far-curve was pushed down by weaker coal and carbon.|
|Market Open||Market Open|
|The UK gas system is 10mcm short this morning as demand levels have increased due to colder temperatures, while supply levels are unchanged. As a result, movement along the curve is mostly stable as commodity markets continue to move down.||Power prices display minor gains at the front of the curve due to weaker renewable availability and colder temperatures. However, the rest of the curve is bearish as global energy markets remain weak.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices are at their weakest level in 2019 following another strong loss yesterday as economic indicators across the world are weak; Brent currently trades around $57.5/b.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 48.73ppt and £51.33/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.