|Gas prices stabilised yesterday afternoon, with only minor changes in either direction. Rising Brent continued to provide support further along the curve, while a weaker renewable power outlook for today lifted the prompt.
|Power prices displayed mixed movement on Tuesday, although overall sentiment was largely bullish. Coal and oil markets provided support, while wind levels were also forecast to fall today.
|The UK gas system is undersupplied this morning, helping towards gains at the front of the curve. Carbon is also up, while oil has opened down, with the majority of gas prices displaying little change.
|Power prices display minor changes once again and display no real trend this morning. Oil prices have eased down slightly, while the Pound has strengthened against the Euro, with prices retracing some of yesterday’s gains.
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices continued to strengthen yesterday but have stabilised somewhat this morning, trading close to $31/b. Despite production cuts, it may be too early for Brent to maintain levels above $30/b.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 30.25ppt and £38.15/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.