|Market Close||Market Close|
|Gas prices displayed mixed movement on Friday with planned maintenance providing support to contracts at the front of the curve; export capacity is expected to be reduced by 58.5mcm/ day until the 10th of September. Further out, oil prices failed to provide much support and some contracts recorded a loss.||An increase in solar power helped to offset low wind generation on Friday and over the weekend, helping to weigh on the prompt. Weakening coal contributed to losses at the back of the curve, with a stronger Pound also a factor. Restrictions on gas supply had little effect on the power curve, with a cooler weather outlook expected to reduce demand this week.|
|Market Open||Market Open|
|The UK gas system is slightly long this morning as demand levels are 43mcm below the seasonal average. Norwegian flows are down to 43mcm and exports via the IUK pipeline have dropped to 25mcm to help make up the shortfall. Brent has offered little in the way of support, while a stronger wind outlook should reduce the need for additional CCGT generation this week.||The front of the power curve displays minor losses this morning, while prices at the back of the curve have increased slightly. Healthier wind generation has helped to pressure down the near-curve, with a drop in temperatures also expected to reduce cooling demand. Further out, prices have taken direction from strengthening fuel markets.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices hold around $52.3/b this morning although the market remains volatile as traders wait to see the full extent of the damage left by Hurricane Harvey, with a quarter of US refinery capacity currently offline.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased slightly – closing at 44.88ppt and £45.93/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.