|Market Close||Market Close|
|Gas prices increased at the start of the session, following upward movement on stock markets. However, a downturn in oil prices helped to weigh on contracts in the afternoon. Meanwhile, the system was balanced with the help of high wind levels and stable imports.||Power prices displayed little movement during Thursday’s session, although some losses were extended in the afternoon due to weaker oil. Carbon continued to offer resistance, while a slight drop in wind generation was forecast for today, resulting in a small gain on the prompt.|
|Market Open||Market Open|
|The UK gas system is 8.5mcm long this morning with little change to demand, however gas-fired power is expected to ramp up over the weekend due to a drop in both wind and solar levels. This has helped to push near curve prices higher, while the far curve has found support from a rise in commodities.||Day-Ahead power has opened higher this morning as wind and solar availability is expected to drop below the seasonal norm over the weekend and the start of next week. Sentiment along the rest of the curve is mixed, with a rise in carbon providing some bullish pressure.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices fell below $44/b yesterday but have since recovered back to around $44.4/b, with low global demand causing bearish sentiment across oil markets.
1-year forward prices
Market close data has revealed that the 1-year forward price for commercial gas increased, while commercial electricity moved down, closing at 37.14ppt and £47.61/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.