|Market Close||Market Close|
|Gas prices remained soft yesterday, despite a large rebound in oil prices and minor gains in power. Further out, contracts shown some resilience thanks to steady coal and EUA prices.||Pressure from a higher renewable output coupled with a stable consumption saw spot power prices fall yesterday. However, further out prices were slightly up on with support from the rise in EUA prices. These were also supported by the UK Parliaments vote to block a no deal Brexit.|
|Market Open||Market Open|
|Lower temperatures this morning are giving some expectation on increased gas demand, although near-full stocks should continue to limit any significant rebound. Curve contracts are expected to weaken further, with a generally stable to bearish outlook held for European gas prices today.||This morning, carbon and coal are up whilst oil is slightly down. With higher renewable generation, a bearish outlook is held for the spot power prices today. Further out, prices are expected to strengthen.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent rebounded strongly yesterday, eventually topping the $60/b mark. The main drivers for this were the economy and some positive signals sent from both the US and China. Opening this morning at $60.5/b, Brent is expected to hold around the $60/b mark today.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased slightly – closing at 42.89ppt and £48.85/MWh, respectively.
click to enlarge graph
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.