|Market Close||Market Close|
|Movement on the gas curve was generally bearish yesterday, with little support provided by oil as markets were closed for American Independence Day. Supply levels were comfortable despite higher CCGT demand as LNG send-outs ramped up following several deliveries.||Varied movement could be seen across the power curve on Tuesday as weak wind levels increased reliance on more expensive gas-fired generation. Solar power will rise but warm weather could lift demand for the rest of the week. European coal markets increased but the oil market was stable, resulting in minimal movement on the far-curve.|
|Market Open||Market Open|
|Gas prices are on the rise this morning as the system has fallen 6mcm short due to weak UKCS flows as a result of outages at SEGAL and St Fergus. Meanwhile, warmer weather is expected over the next few days which should limit demand, restricting some of the gains. Changes on the far-curve were minimal as market liquidity is low due to the US holidays.||Power contracts have also increased, taking direction from their gas counterparts, stronger coal and a weak wind generation outlook. A rise in temperatures should also result in increased cooling demand for the rest of the week, providing additional support.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent stabilised yesterday as US markets were closed and prices remain quite static this morning, sitting just above $49.7/b. The US inventory report has been postponed until tomorrow and there should be very little movement until then.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased – closing at 42.50ppt and £43.43/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.