|Market Close||Market Close|
|Gas prices weakened yesterday morning but any losses were limited by Norwegian maintenance and an unplanned outage. Supply into the UK was limited as a result but a healthier LNG outlook provided bearish pressure. Meanwhile, commodity markets moved down which helped to weigh on the far curve.||Despite a weak opening, power prices found support from a rise in coal and carbon in the afternoon and closed at a premium. However, an expected rise in wind levels today helped to pressure down the prompt.|
|Market Open||Market Open|
|Gas contracts have climbed higher this morning following a rise in coal and carbon; carbon found support from the expectancy of another extension to the Brexit deadline. In terms of supply, the system is 10mcm long thanks to healthy LNG send-outs and stronger wind generation which has reduced gas-fired power demand.||Power prices continue to take direction from stronger carbon, while wind levels are also expected to drop tomorrow, supporting the prompt. Coal also displays another increase, while weaker oil has had little impact on the curve.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices display another loss this morning as traders continue to focus on a weaker global economy. Despite this, a rebound is likely as Hurricane Dorian is expected to affect oil production on the Gulf Coast.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased – closing at 43.75ppt and £49.75/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.