|An expected drop in temperatures last night and a colder weather forecast for next week provided support to the prompt and near-curve gas prices yesterday. Further out, contracts moved down later in the session as coal and oil markets turned bearish.
|Power prices followed their gas counterparts with the contracts at the front of the curve climbing higher on the back of a colder weather forecast for the start of April. Meanwhile, oil and coal prices corrected down and this contributed to some losses at the back of the curve.
|Yet another revision to the short term weather forecast has pointed towards milder weather, resulting in losses across the near gas curve this morning. However, any decreases were limited by a short system due to higher demand and a drop in Langeled flows. Bearish movement at the back of the curve was also restricted by a slight rise in oil prices.
|Day-Ahead power displays a healthy loss as comfortable renewable generation and improved temperatures are forecast for tomorrow. Temperatures are also expected to be around the seasonal norm next week, weighing on the rest of the near-curve. A slight drop in coal prices has helped far-curve prices move down, with an increase in Brent having little impact.
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices have climbed $0.20/b higher following a supportive EIA report, with easing tension in regards to the Chinese/ American trade war also a factor.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 46.68ppt and £47.43/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.