|Gas prices moved down yesterday despite an under-supplied system at the start of the session, as a mild weather forecast, an increase in wind levels and weaker commodity markets offered bearish pressure.
|Power prices decreased on Thursday as weak financial markets weighed on commodities. Wind levels were forecast to improve further which weighed on the prompt, while a warmer weather outlook pressured down the rest of the near-curve.
|The UK gas system has opened balanced this morning which has helped to provide resistance to the bulls, with the help of a mild weather forecast. Meanwhile, oil markets continue to move down, while coal and carbon display minor gains, capping downward movement at the back of the curve.
|Slight increases on gas, coal and oil markets have helped to support power prices this morning, although an increase in temperatures should weigh on demand, offsetting any gains.
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices have moved down as traders await the Russian response in regards to confirming 2019 production cuts; Brent currently trades around $60/b.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased – closing at 59.15ppt and £58.13/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.