|Market Close||Market Close|
|Gas prices increased on Friday thanks to more buying interest from traders, in addition to a drop in supply from Norway which tightened European systems. Despite the bullish sentiment, the short term outlook is healthy with a rise in LNG send-outs and a warmer weather forecast.||Power prices displayed gains on Friday with bullish pressure provided by rising commodity markets; coal, carbon, gas and feedstocks all moved higher which offered support throughout the session. A weaker renewable outlook also offset the effects of a milder weather forecast.|
|Market Open||Market Open|
|Norwegian flows are back to normal this morning and the system has moved slightly long even with a rise in exports. Temperatures have increased as expected but could drop later in the week, while renewable power availability is low; as a result losses across the near-curve are minor.||Power prices are easing down slightly this morning as gas and coal markets display losses. The 15 day weather outlook also points to mild temperatures, while solar and wind generation should remain around current levels.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices climbed to around $70.8/b in the early hours, their highest levels since November 2018 but have since settled around $70.3/b. Fundamentals remain bullish with concerns that a civil war could break out in Libya which would impact oil supply.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased – closing at 52.48ppt and £55.38/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.