|Market Close||Market Close|
|Gas prices initially opened lower but rallied higher as the session progressed to close at a premium. Carbon and coal prices supported contracts at the back of the curve, while the near-curve was dictated by high storage injections, a weak LNG outlook and a lack of wind generation which increased CCGT demand.||Power prices strengthened on Thursday with support provided by gas and coal markets. Low wind generation was expected to fall today, although solar power should remain consistent. Above average temperatures are also expected to lift cooling demand over the next couple of weeks.|
|Market Open||Market Open|
|The system is 10mcm long this morning which has limited upward movement at the front of the curve, although overall trend remains bullish as storage injections are strong across Europe. Far-curve prices have also moved higher, although a drop in coal and oil has provided resistance.||Day-Ahead power has recorded a loss this morning as renewable power is set to improve over the weekend. The rest of the curve has moved higher but gains are not as prominent as those displayed on the gas curve. Coal and oil markets have also decreased, limiting bullish movement on the far-curve.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby price moved down as US crude inventories showed an increase, with the on-going trade war between the US and China providing additional support to oil prices; Brent currently trades at $77.3/b.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased – closing at 58.56ppt and £57.53/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.