|Market Close||Market Close|
|Gas prices climbed higher on Friday with direction coming from bullish fuel markets, with carbon, coal and oil prices all posting gains. A healthier renewable power outlook for the start of this week will reduce CCGT demand, capping gains at the front of the curve but the overall trend remained bullish.||Power prices increased on Friday as the overall energy complex was bullish, with stronger gas providing additional upward pressure at the front of the curve. Coal and carbon both moved higher, supporting the far-curve, while an improved wind generation forecast for this week limited bullish movement on the prompt.|
|Market Open||Market Open|
|The system has opened long this morning as a drop in exports via the IUK pipeline have offset the effects of weaker Norwegian flows. Gas prices are generally stable, although coal and oil markets continue to provide support. Temperatures have dropped to around the seasonal average, but wind levels have improved as expected, reducing the need for gas-fired power.||Power contracts display minor gains this morning as oil and coal display marginal increases, while gas and carbon are little changed. Renewable levels are slightly stronger than last week, while temperatures are around the seasonal norm, reducing cooling demand.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices have found support from an expected announcement today in regards to US sanctions on Iran, in addition to a drop in oil output in Saudi Arabia and a decrease in active US drilling rigs.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased – closing at 58.25ppt and £57.77/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.