|Market Close||Market Close|
|Gas prices carried on last week’s bearish trend during Monday’s session, finding direction from weakening commodity markets, driven by spread of the Coronavirus in China. Milder and windy weather, combined with strong flows and high storage levels also weighed on prices.||Power prices were generally stable yesterday with near-curve prices finding some support from a slight drop in renewables. Further out, prices were pressured down by falling coal, gas and oil markets.|
|Market Open||Market Open|
|The UK gas system has opened 10mcm long this morning and temperatures have been revised higher once again, resulting in further losses across the near gas curve. High wind levels are also set to continue, reducing gas-fired power generation. However, coal and oil display a slight rebound, limiting some of the downward movement at the back of the curve.||A rebound in coal, oil and carbon has helped to restrict bearish movement along the power curve this morning and prices are almost unchanged. A milder weather outlook and strong wind has helped to offset any potential gains on the near-curve.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices displayed another strong loss yesterday but have rebounded marginally this morning. Weak Chinese oil demand, on the back of concerns regarding the Coronavirus continues to control the market.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased – closing at 29.10ppt and £37.89/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.