|Market Close||Market Close|
|Near-curve gas prices moved higher towards the end of Friday’s session with support provided by stronger carbon contracts. Upward movement on the prompt was capped by a milder weather outlook for this week and an expected rise in LNG send-outs, while weaker oil limited gains at the back of the curve.||Near-curve power prices decreased at the end of last week with direction coming from a healthy renewable outlook this week, combined with a mild weather forecast. Stronger gas and carbon markets provided resistance on the rest of the curve, however, any increases were minimal due to weaker coal and oil.|
|Market Open||Market Open|
|Oil and coal markets have weakened this morning and the UK gas system is slightly oversupplied, resulting in losses across the curve. Demand levels are down due to an uptick in temperatures and wind generation, however some support is provided by rising carbon prices.||Most power prices display a small loss this morning, following their weakening gas counterparts. The outlook for this week is unchanged with milder weather and a rise in wind levels helping the prompt shed from its price.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices displayed a small loss over the weekend, correcting downwards since hitting a 4-year high last Wednesday. Overall sentiment remains supportive but the bullish trend has calmed as US officials announced they could be open to some flexibility in terms of Iranian sanctions.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 68.72ppt and £66.16/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.