|Market Close||Market Close|
|Gas prices moved down across the curve on Thursday as the system remained long thanks to healthy UKCS production which more than offset a slight rise in demand. Temperatures are also set to turn warmer over the weekend and the start of next week and the overall supply outlook is comfortable.||Power contracts displayed mixed movement yesterday on the back of volatile fuel markets. The supply picture is expected to improve over the weekend but a sharp drop in wind generation today helped the prompt strengthen.|
|Market Open||Market Open|
|Gas prices have turned bullish this morning with increases on the oil market the main factor behind the gains. The system is 3mcm long despite an ongoing outage in Norway, while demand levels are expected to fall over the weekend, limiting upward movement at the front of the curve.||Power contracts have added to their price this morning, taking direction from stronger gas and oil. Day-Ahead is the exception to the upward movement with a mild weather outlook for the weekend and an expected rise in solar generation weighing on the contract. Meanwhile, supply disruptions in Australia continue to support the coal market.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices display further gains this morning with support coming from the US missile strike in Syria which has caused tensions with Russia. Prices moved above $56/b temporarily but have now settled at around $55.8/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 44.45ppt and £43.39/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.