|Market Close||Market Close|
|Gas prices inched higher on Friday due to supply constraints which resulted in a short system. However, the prompt shed from its price as demand levels were set to fall over the weekend thanks to warm weather. Further out, prices inched higher with support coming from rising fuel markets and a weak Pound.||Movement on the power curve was similar to gas, with the expected rise in temperatures helping the prompt record a strong loss. Weaker gas supply restricted bearish movement on the rest of the near-curve, while contracts at the back of the curve were supported by rising coal and oil markets.|
|Market Open||Market Open|
|The system has opened 2.8mcm short today despite low demand levels and improved Norwegian flows. Cooler weather is expected this week and wind levels will remain low, helping the prompt and the rest of the near-curve move higher. Meanwhile, coal and oil prices continued their bullish trend over the weekend, contributing to gains at the back of the curve.||An expected drop in temperatures this week and lower renewable power has resulted in bullish movement across the near-curve this morning. Gains on the far-curve were slightly capped by a strengthening Pound but on-going support has been provided by rising Brent and coal.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices have recorded strong gains over the bank holiday weekend with traders are keeping an eye on the situation with Iran. If Trump chooses to impose sanctions, up to 1 million barrels per day could be removed from the market.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased – closing at 52.79ppt and £52.31/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.