|Market Close||Market Close|
|Gas prices continued to rally higher yesterday morning, but slowly eased down as the session progressed. Contracts traded close to their previous closing price as any bullish pressure provided by the rise in oil prices faded.||Near-curve power prices displayed gains yesterday, while contracts further out erased their early morning premiums during a busy day of trading. A drop in gas and carbon helped to apply bearish pressure to the curve, while stable wind generation helped to weigh on the prompt.|
|Market Open||Market Open|
|The UK gas system is oversupplied this morning as overall flows remain comfortable; Russian flows into Europe have also dropped due to the lack of demand. Gas prices are trading lower as a result of this healthy supply picture, while oil prices have stabilised somewhat.||A drop in coal, gas and feedstocks have applied downward pressure to the power curve this morning, while carbon also displays another small loss. Meanwhile, oil is stable-to-bearish, with healthy wind levels also contributing to losses.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent trades around $68.8/b this morning, easing down from highs of $70/b on Friday. Tensions between the US and Iran remain the main focus, with Trump threatening to impose sanctions if foreign troops are expelled from the country.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 36.49ppt and £43.65/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.