|Market Close||Market Close|
|Gas prices displayed mixed movement yesterday with upward movement on the prompt limited by weaker demand and a comfortable system. However, below average temperatures are forecast for April, pushing the front-month higher, while the far-curve was supported by bullish coal and oil markets.||A mild weather outlook for the coming weeks and current weak demand levels helped to apply bearish pressure to the front of the power curve yesterday. Although some support was provided by a weaker wind forecast for today and expectations of a colder April, while the back of the curve was dictated by rising fuel markets.|
|Market Open||Market Open|
|The prompt has moved down this morning and is the only exception to the bullish trend, taking direction from a healthy supply/ demand outlook for tomorrow. The rest of the near-curve continues to move higher due to the downward revision in temperatures for next month, while increases on coal and oil markets continue to influence prices at the back of the curve.||Power contracts continue to track their gas counterparts closely this morning, with a mild and windy outlook for tomorrow helping the prompt shed from its price. The expected drop in temperatures next month has contributed to gains across the rest of the near-curve and bullish Brent and coal is still the main market driver at the back of the curve.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices stabilised yesterday afternoon following the release of bearish API and EIA reports which point towards healthy demand and comfortable US commercial crude stocks; Brent currently trades around $65.8/b.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased – closing at 47.34ppt and £47.82/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.