|Market Close||Market Close|
|Gas prices moved higher during Tuesday’s session as demand for storage injections increased and low wind levels resulted in higher gas-fired power generation. LNG supply was also low due to higher Asian prices, while rising fuel markets supported prices at the back of the curve.||Day-Ahead and Front-Month contracts climbed higher yesterday, while seasonal contracts were largely unchanged with direction coming from the gas curve. Further out, contracts followed the coal market, with APi2 coal prices breaking their $90/tn resistance levels.|
|Market Open||Market Open|
|The system has opened 10mcm long this morning despite strong exports via the interconnector and higher CCGT demand. The improved supply picture has helped to limit upward movement at the front of the curve but strengthening coal and oil markets have contributed to gains at the back of the curve.||Power contracts display gains this morning, although an expected rise in renewable power tomorrow has helped the prompt shed from its price. Above average temperature is expected to continue over the coming weeks, lifting demand for air conditioning, while the coal market continues to strengthen, offering support to the rest of the curve.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices have climbed to $78.5/b with support coming from bullish API figures which helped North American markets rally higher.
1-year forward prices
Market close data has revealed that the 1-year forward price for commercial gas decreased, while commercial electricity displayed a small gain – closing at 58.05ppt and £56.73/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.