|Market Close||Market Close|
|Near-curve gas prices recorded losses on the back of an oversupplied system and a healthy LNG outlook. The losses filtered through to the rest of the curve with bearish coal and oil markets weighing on longer dated contracts.||Power contracts shed from their price on Monday with a drop in coal, oil, gas and feedstocks the main market driver. Wind levels improved which pressured down the prompt, while temperatures are set to be around the seasonal average this week, reducing cooling demand.|
|Market Open||Market Open|
|The system remains slightly long this morning and coal, carbon & power markets continue to weaken, resulting in downward movement across the gas curve. Storage levels are healthy across Europe and flows into the UK are around the norm.||Power prices have weakened further as coal, carbon and gas display another loss, with oil only showing a very minor rebound. Meanwhile, the weather forecast is unchanged with mild weather and improved wind expected over the next 15 days.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices have corrected down yesterday with direction coming from a global stock market slide and the devaluation of the Chinese Yen, in what has been described as ‘currency manipulation’ in response to US imposed sanctions.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 47.95ppt and £53.97/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.