|Market Close||Market Close|
|Residential demand was predicted to fall today, with improved renewable generation also reducing the need for gas-fired power. However, the system was short throughout the session due to stronger demand and weaker flows via the Langeled pipeline. An upward revision in the short term weather forecast kept any gains to a minimum, while far-curve prices were almost unchanged at the close of the session.||An expected rise in wind power today, combined with milder weather helped Day-Ahead power shed from its price on Thursday. The losses filtered through to the rest of the near-curve as temperatures were revised higher for next week. Prices further along the curve displayed minimal movement as oil and coal markets moved in opposite directions.|
|Market Open||Market Open|
|Milder temperatures have resulted in a drop in demand this morning, weighing on near-curve gas prices. The system has opened 6.6mcm long on the back of the weaker demand picture, helped by healthy LNG send-outs. Meanwhile, oil prices have moved down slightly and movement at the back of the curve is generally stable as a result.||Wind levels are expected to fall over the weekend which has led to the prompt recording a small gain this morning. A mild weather forecast for next week has restricted upward movement on the rest of the near-curve, while a volatile coal market has offered some support at the back of the curve despite weaker Brent.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent-1st nearby prices have decreased following comments made by Donald Trump, calling for a new tariff on Chinese goods which has done little to ease concerns of a potential trade war.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased – closing at 46.78ppt and £47.61/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.