|Gas prices displayed little movement at the opening of Thursday’s session but moved down over the course of the day. Healthy supply levels helped to weigh on prices at the front of the curve, while movement further out was less significant with bullish resistance provided by a rise in coal and oil.
|Power prices decreased yesterday as carbon weakened and mild weather should weigh on demand next week. The larger losses were displayed at the front of the curve as coal and oil offered support further out.
|Gas prices trade higher this morning as carbon has increased and Norwegian flows into the UK are weaker as the Troll gas field is undergoing annual maintenance. The UK gas system has fallen short as a result, although LNG supply remains strong.
|Coal and oil markets continue to rise this morning which has helped to support the power curve, with carbon also displaying additional gains. Short-term fundamentals are bearish but the power curve is dictated by commodity markets today.
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices rebounded yesterday and trade close to $61.7/b this morning. The increase was stronger than anticipated with positive data released in the US and in Russia.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased – closing at 48.83ppt and £52.02/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.