|Market Close||Market Close|
|Demand levels are expected to be slightly higher this week which helped to push near-curve gas contracts higher on Monday. Meanwhile, coal prices strengthened due to a drop in Australian production as a result of Cyclone Debbie, offering support further along the curve. In terms of supply, the UK gas system was balanced with exports to Belgium reaching their highest level since September 2016.||Power contracts were pushed higher by rising coal and oil markets in yesterday’s session, although low demand helped to restrict upward movement at the front of the curve. Wind generation is expected to remain comfortable but this failed to pressure down the prompt.|
|Market Open||Market Open|
|The UK system has opened short this morning, helping towards increases at the front of the gas curve. UKCS production is lower, while an outage at the Kvitebjorn field has resulted in weaker imports from Norway; exports to Belgium have also increased, further impacting the system. Meanwhile, coal prices have settled this morning and oil contracts have decreased, limiting bullish movement on the far-curve.||UK power contracts have followed their European counterparts this morning and gains can be seen across the curve, with yesterday’s increases on the coal market also a factor. Cooler weather has also resulted in higher power consumption and gas demand, further supporting prices.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices corrected downward yesterday after hitting technical resistance levels. Prices are expected to stabilise today with little direction provided by the usual fundamental factors; Brent currently trades just below $52.8/b.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased – closing at 44.58ppt and £43.36/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.