|Market Close||Market Close|
|Gas prices moved down on Friday with bearish pressure provided by a warmer weather outlook and healthy supply. The UK gas system was 20mcm long for most of the day despite higher residential demand. Fuel markets were also stable-to-bearish, helping to weigh on the far-curve.||Power prices were pressured down by falling gas, coal and carbon markets, with a milder weather forecast for this week also a contributing factor. Coal fell by almost $2/tn, while gas weakened thanks to healthy supply levels.|
|Market Open||Market Open|
|Fundamentals are little changed this morning, with the exception of a rise in oil prices. The system remains oversupplied with a further drop in demand expected this week, resulting in gains at the front of the curve. However, losses further out have been limited by stronger Brent.||Power contracts are bearish once again this morning as gas, coal and carbon markets display further losses, however, oil prices have rebounded, offering some resistance. Temperatures are milder as expected and should remain above the seasonal norm for the rest of the week.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices have increased and trade just below $62.8/b this morning as talks between the US and China have created market optimism, with OPEC also reporting of good compliance in regards to production cuts.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 53.83ppt and £56.04/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.