|Market Close||Market Open|
|A milder weather forecast for this week helped to pressure down near curve gas contracts on Friday as demand levels are set to fall. Withdrawals are also set to restart at the Rough storage facility on Friday, with a drop in coal and power prices also helping towards the losses.||Losses were displayed across the near power curve on Friday as demand levels are expected to fall this week. Downward movement on the coal and gas markets were additional factors behind the losses, with a strengthening Pound also providing bearish pressure.|
|Market Open||Market Open|
|The Pound continues to strengthen against the Euro this morning following the recent Italian referendum and the resignation of the country's Prime Minister; helping to weigh on some gas contracts. Meanwhile, the on-going outage at the Heimdal platform and a new outage at Sleipner continues to provide some support at the front of the curve but movement is generally bearish due to a weaker demand forecast.||Power contracts have moved down this morning due to a warmer weather forecast for tomorrow, with temperatures expected to climb to 6 °C above seasonal norm in some places. Demand levels are expected to fall significantly as a result, while a drop in coal has weighed on prices further out.|
Brent 1st-nearby prices posted further gains over the weekend and remain close to a 15-month high despite a slight downward correction this morning. Recent rig counts and concerns regarding the implementation of the OPEC freeze deal have provided some bearish pressure but the overall outlook remains supportive.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased - closing at 44.30ppt and £44.64/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.