|Market Close||Market Close|
|Gas prices eased down across the curve on Tuesday, with weaker commodity markets helping to weigh on longer-dated contracts. The more significant losses could be seen at the front of the curve as wind generation forecasts were healthier and temperatures are expected to increase slightly.||A milder weather outlook, an expected rise in wind levels and weaker gas prices helped towards losses across the near power curve yesterday. Downward movement at the back of the curve was less prominent as oil prices moved higher and coal fluctuated throughout the session.|
|Market Open||Market Open|
|The system is 30mcm short this morning due to an unplanned outage in Norway which has impacted flows into the UK. However, this has had little effect on prices which are generally bearish due to a weaker demand forecast, helped by a healthier wind outlook.||The majority of prices are weaker this morning as fuel markets have corrected down, following global financial markets. Meanwhile, fundamentals are largely unchanged with milder and windier weather expected, applying bearish pressure to the front of the curve.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices have settled just above $62/b with the weak global economy coming back to the fore to provide resistance. API figures are also bearish, which has helped to pressure down oil prices.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 59.90ppt and £59.40/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.