|Market Close||Market Close|
|Most gas contracts were range-bound yesterday with no major shifts in terms of fundamentals. LNG send-outs are expected to remain healthy throughout July and Norwegian flows will rise today with the return of the Gjoa platform, weighing on the prompt. Meanwhile, rebounds on coal and oil markets offered some support on the far-curve.||Power prices were generally stable during Thursday’s session with fuel markets providing little direction. Warmer weather lifted cooling demand slightly but also contributed to healthy solar power, however, wind levels remained weak.|
|Market Open||Market Open|
|Falling oil prices have helped gas contracts move down this morning, with improved flows from Norway and Russia also contributing to losses. Meanwhile, wind generation is set to improve next week which will reduce CCGT demand. Coal prices could also decrease this afternoon following strong gains this week, the outlook for gas prices is bearish as a result.||Power contracts have moved down this morning with the day-Ahead contract the notable exception which displays a strong gain. Wind levels are set to rise next week but remain quite low today, with solar power helping to offset the drop. The rest of the curve has followed gas and oil markets and moved down, with no support provided by coal prices.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices dropped overnight and trade below $47.5/b this morning, with bearish pressure coming from the latest EIA report which showed an increase in domestic production.
1-year forward prices
Market close data has revealed that the 1-year forward price for commercial gas decreased slightly, while commercial electricity was unchanged – closing at 41.95ppt and £43.08/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.