|Gas prices displayed little change over the course of Friday’s session, with a drop in carbon offsetting the impact of rebounds on coal & oil markets. The short term supply/ demand outlook was also stable with an expected rise in Norwegian flows over the weekend, helping the system cope with higher demand.
|Power prices traded down on Friday, following weaker carbon markets, with little direction provided by gas. Forecasts for October point to temperatures around the seasonal norm, while healthy wind levels are expected this week; contributing to losses at the front of the curve.
|The UK gas system has opened long this morning and fuel markets have weakened, resulting in losses across the gas curve. Global energy markets continue to follow the overall economic slowdown, with uncertainty surrounding Brexit adding to bearish sentiment in the UK.
|Power contracts display further losses this morning, following their gas counterparts. Coal and carbon markets have both opened at a discount, while renewable generation levels are comfortable.
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices ended last week with a strong loss but showed some recovery during Friday afternoon trading. A drop in active oil rigs in the US and expectations that the Federal Reserve will look to support the market contributed to a small gain.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 47.65ppt and £50.45/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.