|Market Close||Market Close|
|Near-curve gas contracts increased on Tuesday on the back of stronger oil prices and an unplanned outage in Norway which restricted imports to the UK. The system was undersupplied throughout the session but drop in coal prices helped to weigh on far-curve contracts in the afternoon.||Upward movement on European markets transferred to UK power prices yesterday and gains could be observed across the curve. Strong coal and a rebound in oil provided additional support on the far-curve, while an increase in gas dictated corresponding contracts on the near-curve.|
|Market Open||Market Open|
|UKCS production has improved this morning and storage withdrawals are higher, helping towards an oversupplied system; resulting in losses at the front of the gas curve. However, cooler temperatures are expected next week which will push demand levels higher and oil prices remain bullish, limiting the losses.||Power prices track the movement of gas this morning, with rising oil contracts failing to have much impact. Temperatures are expected to remain mild despite a drop next week and healthy renewable generation should restrict the bulls in today’s session.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent rebounded strongly yesterday with direction coming from an unplanned outage at the Buzzard field in the North Sea and bullish API data; Brent now trades close $44.7/b.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 44.00ppt and £43.06/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.