|Market Close||Market Close|
|Gas prices remained bearish on Tuesday, following global commodities which saw a large sell-off due to weak oil demand and the US/ Chinese trade war. Oil and coal displayed strong losses, weighing on the far-curve, while planned maintenance in Norway limited losses at the front of the curve.||Power prices tracked the movement of gas yesterday, with coal, carbon and oil markets weakening further. The prompt also displayed a loss, as wind levels are expected to pick up over the next few days which will reduce reliance on gas.|
|Market Open||Market Open|
|Production cuts at the Teesside gas facility has been extended until tomorrow which has contributed to increases at the front of the curve this morning. Further out, movement is minimal as volatility on commodity markets has calmed for the time being.||Overall sentiment remains bearish on the power curve this morning, with cooler weather reducing demand and improved wind levels limiting the need for more expensive generation methods. Further out, fuel markets offer little direction and contracts display only minor losses.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices display further losses with a rebound in US equity markets having no impact as a weak Asian economy continues to dictate the market; Brent now trades below $59/b.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 47.92ppt and £53.73/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.