|Market Close||Market Close|
|Gas prices moved down on Monday, shaving off some of the significant gains which were recorded last week. Weakening coal and oil markets helped to weigh on the far-curve, while improved Norwegian supply and an expected rise in temperatures later in the month contributed to losses at the front of the curve.||Temperatures are expected to revert back to the seasonal norm later this month which will help to ease demand; resulting in losses at the front of the power curve yesterday. Elsewhere, weakening gas, coal and oil prices helped contracts further along the curve shed from their price.|
|Market Open||Market Open|
|Another upward revision in temperatures has resulted in further losses on the gas curve this morning. Additional downward pressure was also provided by a long gas system following an increase in UKCS production, as the outage at the St Fergus terminal was resolved. Meanwhile, decreases on the coal and oil markets have restricted any bullish movement at the back of the curve.||The UK power curve is currently being pressured down by losses on the French and Dutch markets, with bearish movement displayed across Europe at present. Another upward revision in this month’s weather forecast and falling APi2 coal has also helped to weigh on prices.|
Brent 1st-nearby prices decreased yesterday, with the bearish pressure thought to be a technical correction rather than a change in fundamentals. Traders currently await the release of the monthly and weekly EIA reports which has also helped to weigh on prices.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 48.11ppt and £46.32/MWh, respectively.
Today’s prices can also be found in an easy to read table on or ‘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.