|Market Close||Market Close|
|Gas prices increased yesterday, reaching levels that were 5p higher than the average price last winter, with bullish pressure provided by rising coal and oil markets. However, upward movement at the front of the curve was offset by a cooler weather forecast and an expected rise in supply from the Bacton SEAL terminal.||Power prices were pushed higher by a bullish coal market and significantly above average temperatures across Europe lifted cooling demand, offering further support to power markets. The prompt was one of the few contract to move down as wind generation was forecast to rise today.|
|Market Open||Market Open|
|A slightly long system has limited gains at the front of the curve this morning, while coal and oil markets have stabilised following strong increases yesterday. Renewable levels have also improved, reducing CGT demand but a decrease is expected tomorrow, helping the prompt climb higher.||Power prices continue to take direction from rising gas this morning, while coal and oil markets are almost flat. Improved wind levels have reduced gas-fired power demand but a drop is expected tomorrow, supporting the prompt, while temperatures should fall to around the seasonal norm in the coming days.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices display further gains and trade close to $74.7/b this morning as tensions between the US and Iran continue to support the market. Recent data also showed that US crude stocks decreased by 6 million barrels last week and traders now await this week’s EIA report.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased – closing at 59.95ppt and £58.40/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.