|Market Close||Market Close|
|Gas prices moved down across the curve on Friday, with a weak demand outlook contributing to losses on the prompt and the rest of the near-curve. A number of LNG deliveries are also expected to dock in Europe in the coming weeks, adding to the bearish sentiment. Meanwhile, the far-curve was pressured down by falling coal, carbon and oil markets.||Power contracts displayed strong discounts on Friday with direction provided by weakening fuel markets. Losses on the gas curve transferred to their power counterparts at the front of the curve, while the far-curve was dictated by falling coal and carbon contracts.|
|Market Open||Market Open|
|The UK gas system has opened slightly short this morning as demand levels have increased by 12mcm compared to Friday, however, levels remain 30mcm below the seasonal norm. The front of the curve displays losses but the short system has provided some resistance, with weak renewables also increasing CCGT demand. Further out, prices continue to track bearish fuel markets.||Low wind generation continues to lift CCGT demand and the prompt has opened unchanged as a result. Temperatures are slightly lower compared to last week, reducing cooling demand and combined with weaker gas prices, movement at the front of the power curve is bearish. Further out, the overall picture is unchanged with lower fuel prices influencing the majority of contracts.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices have moved down, erasing the gains recorded between Thursday afternoon and Friday morning. Bearish pressure was provided by a possible rise in OPEC output and a higher active rig count in the US.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 55.68ppt and £54.94/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.