|Market Close||Market Close|
|Gas prices moved down yesterday afternoon, erasing some of the morning's strong gains, with comfortable gas systems across Europe providing bearish pressure. Concerns regarding power supply over the winter period offered support at the start of the session but higher imports into the UK from Belgium and falling Brent helped contracts record a loss.||The power curve displayed mixed movement yesterday due to contrasting fundamentals. Temperatures are expected to turn milder after a brief cold spell at the start of next week, helping towards losses at the front of the curve. Meanwhile, the outages at French nuclear reactors assisted winter-16 contracts in climbing higher. Further out, most contracts moved down on the back of weaker gas, although APi2 coal continued to strengthen.|
|Market Open||Market Open|
|The UK gas system remains long this morning and losses can observed on the near gas curve once again this morning. Dutch and Belgian imports into the UK remain high and demand levels are slightly down, with the planned outage in Norway having little impact. Meanwhile, temperatures are expected to revert back to the seasonal norm at the end of next week which should help to ease demand.||The majority of power contracts have tracked the movement of their weakening gas counterparts this morning with the exception of Jan-17 & Feb-17. A milder weather outlook for this month and an expected rise in wind levels led to losses on the prompt, while a strengthening Pound contributed to sizeable losses on the far-curve.|
Brent 1st-nearby prices continued to decrease this morning and currently trade around $46.3/b; on-going doubts regarding global production cuts continue to weigh on the market.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased - closing at 47.00ppt and £48.26/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.