|Market Close||Market Close|
|The gas curve climbed higher during August’s first day of trading, with spot prices finding support from low liquidity on trading floors, resulting in a ‘short squeeze’. Further out, prices were lifted by an increase in oil.||Power contracts displayed gains yesterday, moving up on the back of tighter conditions on gas markets and an expected rise in cooling demand over the next two weeks.|
|Market Open||Market Open|
|The UK gas system is oversupplied this morning but sentiment along the curve remains bearish, on the back of stronger equity markets. Oil is stable, coal has strengthened, while coal and power are also relatively unchanged.||Power prices continue to follow gas this morning and trade higher, with coal and carbon also showing an increase. However, wind levels have improved from yesterday, helping to weigh on the prompt.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices climbed by around 2% yesterday and have settled around $44.2/b this morning. Latest economic data was healthier than expected in Europe, Asia and US, resulting in the rebound on oil markets.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased, closing at 31.50ppt and £42.50/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.