|Gas prices showed little movement yesterday, with the more significant movement displayed by longer dated contracts as a rise in coal and oil provided support. The prompt found direction from a drop in wind levels and colder weather which lifted gas demand.
|Near-curve power prices eased down during Wednesday’s session, helped by a milder weather outlook. Contracts further along the curve found support from their gas counterparts on the back of stronger coal, oil and carbon markets.
|The gas system is oversupplied this morning thanks to a rise in Norwegian & Dutch flows into the UK. Recent forecasts also point towards milder and windier weather over the 15-day outlook which has resulted in losses along the near-curve. Meanwhile, commodity markets have moved in different direction and far-curve prices are stable.
|Power prices are slightly bearish this morning with mixed sentiment provided by fuel markets. A rise in wind levels and temperatures is expected over the coming days which has helped the prompt record a strong loss.
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices rebounded yesterday with hopes of an announcement of OPEC production cuts in a meeting between its members, however, no conclusion was forthcoming.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 29.80ppt and £38.60/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.