|Market Close||Market Close|
|European gas markets rebounded yesterday after Friday’s sell off. In the UK, gas output dropped to 88cm/day in the morning, which led to a quickly undersupplied UK system.||Spot prices were again strong with an upcoming dip in wind power supply and a decrease in nuclear availability. On the far curve, EUA prices moved down sharply as the return of full auction volumes meant there was more supply available.|
|Market Open||Market Open|
|An undersupplied UK system, low stock levels and other factors should continue to support European gas spot prices today. Strong coal and oil prices should continue to be supportive for the far curve.||With coal prices opening higher, and gas prices looking bullish, they should be supportive of power prices. Overall, a stable to bullish outlook for power today.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent breached the $78/b mark yesterday finishing up at $78.45/b. The mood remains bullish and looks like Brent will test the $80/b mark.
1-year forward prices
Market close data revealed that the 1-year forward price for both commercial gas and commercial electricity increased – closing at 68.68ppt and £65.60/MWh.
click to enlarge image.
Today’s prices can also be found in an easy to read table on our ‘current UK energy price' page.
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.