|Market Close||Market Close|
|Near-curve gas prices increased on Friday due to a prolonged outage at the Nyhanma processing plant in Norway, with Front-Month increasing by over 10%. Meanwhile, contracts further along the curve followed rising coal & carbon and displayed gains.||Power prices followed gas and traded higher on Friday. The wind generation forecast for this week is limited which will increase reliance on gas, supporting the prompt. Further out, prices were dictated by increases on coal and carbon markets.|
|Market Open||Market Open|
|The current trend for gas prices remains bullish this morning as fundamentals have not improved. Supply levels are still impacted by Norwegian outages, while a drop in renewable generation has led to a rise in gas-fired power, fuel markets have also strengthened further.||Like gas, sentiment on the power curve is unchanged from Friday with contracts displaying additional gains. Coal, oil and carbon have increased further, while the short term outlook for wind availability is weak.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices have rebounded following last week’s losses but overall sentiment still remains weak. Brent currently trades above $64.2/b with some support provided by OPEC output falling to a 5-year low and fresh concerns regarding the Iranian nuclear programme.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased – closing at 47.00ppt and £52.88/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.