|Market Close||Market Close|
|Movement along the gas curve was minimal yesterday afternoon as supply levels were comfortable, helping to restrict any upward pressure provided by stronger coal prices. In other news, the first ever US LNG delivery to the UK is expected in the near future, providing some bearish pressure at the start of the session.||Power prices initially opened higher but eased throughout Wednesday’s session following downward movement on gas and oil markets. Weak wind generation offered support in the morning, with a warmer weather outlook also a factor, as cooling demand should rise over the next few days.|
|Market Open||Market Open|
|Exports to Europe remain strong this morning and weak wind levels mean more gas-fired power generation is needed. However, Norwegian flows are expected to rise as the Gjoa platform is set to resume operations tomorrow, while a further 6-7 LNG deliveries are expected to dock in the UK this month. This improved outlook has helped contracts across the near-curve record a loss, with weaker coal and oil weighing on prices further out.||Power prices have been pressured down by falling gas as the supply outlook is healthy for this month. Oil and coal markets have also decreased and contributed to downward movement at the back of the curve. Meanwhile, wind levels are slightly higher than yesterday and solar power remains comfortable.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices fell by around $2/b yesterday but have recovered to around $48.3/b this morning. The downward movement was rather unexpected but bullish API stocks figures helped the bulls seize control once again.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 41.98ppt and £43.08/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.