|Market Close||Market Close|
|Near-curve gas prices decreased yesterday with the help of a stronger Pound and an undersupplied system. However, there was some strengthening at the back of the curve due to a recovery on oil markets.||Prompt power contracts shed from their prices on Wednesday thanks to healthy gas supply and an expected rise in wind generation today. A milder weather outlook also helped to weigh on the near-curve but the far-curve found support from a rise in commodities.|
|Market Open||Market Open|
|The UK gas system is oversupplied again this morning due to milder temperatures and an increase in wind levels which has reduced the need for gas-fired power. Gas prices display further losses as a result, although bullish coal and oil has limited downward movement on the far-curve.||Power prices have eased down this morning as an increase in temperatures has reduced heating demand and improved wind generation has weighed on gas demand. Feedstocks are also down which has outweighed a rise in oil and carbon.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices displayed a strong gain yesterday ahead of today’s OPEC meeting which is expected to result in further production cuts; Brent currently trades around $63/b.
1-year forward prices
Market close data has revealed that the 1-year forward price for commercial gas decreased, while commercial electricity recorded a gain – closing at 41.35ppt and £47.23/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.