|Market Close||Market Close|
|A mild weather outlook helped to weigh on near-curve gas prices on Monday, with a significant downward correction in coal prices pressuring down the far-curve. Oil prices moved slightly higher as sanctions on Iran came into effect but this failed to provide much resistance.||Milder temperatures, combined with falling gas and coal resulted in losses across the power curve yesterday. The weak demand outlook contributed to healthy losses at the start of the session but there was some recovery in the afternoon.|
|Market Open||Market Open|
|The short term weather forecast remains the main market driver at front of the curve this morning as LDZ demand should stay below the seasonal norm over the next fortnight. Meanwhile, coal continues to move down, further weighing on prices at the back of the curve.||Power prices continue to ease down this morning, with bearish pressure coming from the confirmation of a period of mild weather. The losses are generally minor but a weakening coal market has helped to pressure down prices on the far-curve.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices have stabilised and remain close to Friday’s levels with weak financial markets and US waivers continuing to weigh on the oil market; Brent currently trades around $73.2/b.
1-year forward prices
Market close data has revealed that the 1-year forward price for commercial gas increased, while commercial electricity moved down – closing at 59.80ppt and £57.48/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.