|Market Close||Market Close|
|Slightly cooler temperatures than the seasonal norm meant gas prices gained strength across the curve on Friday. Support for the near curve came from Norwegian technical issues, whilst support further out was provided by a firming coal market.||Power markets followed their gas counterparts and traded higher on Friday. A firming coal market, which increased in value by almost $2.00/t over the course of the day, also provided strong support for power prices.|
|Market Open||Market Open|
|Near term gas contracts up to and including Q3 19 have fell this morning. A slight rise in temperature expected tomorrow along with forecasts of higher wind have contributed to this. Further out, seasonal gas contracts have rallied.||Most power contracts have increased across the curve this morning, with day-ahead power prices being the only exception. A pick up in wind output is expected and so we could see this reduce spot prices, carrying over some bearishness to the curve.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Strong US production and increasing inventories outweighed OPEC production on Friday, keeping the Brent crude markets quiet. This morning, Brent trades at $71.24bbl, below the highs we saw at the beginning of the month.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased – closing at 50.81ppt and £54.49/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.