|Market Close||Market Close|
|Milder temperatures are expected this month and this has weighed on near-curve gas contracts during the previous two sessions as residential demand has decreased. Healthier wind levels also reduced the UK’s reliance on gas-fired generation, helping towards a long system. Further out, prices moved down following a sharp drop in oil prices in the afternoon.||Strong wind generation was expected today, resulting in a significant loss for the Day-Ahead power contract. Milder weather weighed on the rest of the curve, with the help of weaker gas, while contracts on the far-curve closed at a discount thanks to falling coal and oil markets.|
|Market Open||Market Open|
|The trend is little changed from yesterday with an improved supply/ demand outlook contributing to losses across the near-curve. Norwegian flows are strong at present, while two LNG deliveries are expected to dock in the UK next week. Weaker oil continues to pressure down prices on the far-curve as the coal market has stabilised.||Wind levels are set to drop tomorrow and colder weather is expected over the weekend, helping the prompt add to its price this morning. The rest of the near-curve continues to move down, almost mirroring the gas-curve and the back of the curve is dictated by a drop in Brent.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent prices display a sizeable drop from yesterday’s open as the latest stocks report failed to offer any real direction and instead the market was supported by rising US production; Brent currently trades at $61.62/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 47.43ppt and £46.36/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.