|An undersupplied UK system for a second day in a row gave a boost to NBP spot prices. However a late drop in Brent prices curbed early gains towards the close.
|Prices on power rose further yesterday due to the lack of wind power, however nuclear availability in France continued to increase. A bearish signal at market close.
|Weakening Brent prices along with a balanced UK gas system could stop the bullish activity in the European Gas market today. Coal prices could also ease as most contracts hit technical resistances yesterday.
|Improving wind power conditions and higher nuclear availability could see spot prices decrease slightly. Coal prices on the far curve could hesitate to go up more. Overall, a slight bearish outlook this morning.
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent holds at around $77.6/b this morning which is close to its Monday opening levels. With operators all conscious of the US sanctions, the overall outlook remains bullish.
1-year forward prices
Market close data revealed that the 1-year forward price for both commercial gas and commercial electricity decreased – closing at 68.57ppt and £65.36/MWh.
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Today’s prices can also be found in an easy to read table on our ‘current UK energy price' page.
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.