|Market Close||Market Close|
|Gas prices increased on Friday as demand levels rose to their highest point so far this winter. Further support was provided by an expected drop in temperatures later this week, while lower storage withdrawals resulted in a short system. Oil prices also displayed a small increase which supported far-curve contracts.||Like gas, power contracts moved higher due to an expected drop in temperatures this week. Upward movement on the prompt was slightly limited by an expected rise in wind generation today, while far-curve contracts were pushed higher by stronger fuel markets.|
|Market Open||Market Open|
|The gas curve displays further gains this morning as the current forecast predicts cold weather this month which will lift demand. The prompt has moved higher despite a long system and improved wind generation, instead following the expected drop in temperatures like the rest of the near-curve. Brent prices remain supportive and coal has strengthened, providing additional support to far-curve contracts.||Fundamentals are unchanged this morning with heating demand expected to rise this week due to below average temperatures. The prompt is an exception to the bullish trend as wind levels are set to improve further tomorrow. Meanwhile, an increase in coal prices has helped towards gains at the back of the curve, although Brent is currently holding its price.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices are stable at present despite the decision to extend production cuts until the end of 2018, with traders already factoring in the expected decision during November.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased – closing at 49.10ppt and £47.63/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.