|Market Close||Market Close|
|Gas prices climbed higher yesterday, with the prompt finding support from an expected drop in renewable levels tomorrow, lifting demand for gas-fired power. Oil prices retraced slightly but overall sentiment on the far-curve remained bullish.||Power prices continue to strengthen slightly during Wednesday’s session, with wind generation expected to decrease today, offering support to the Day-ahead contract. Commodities also moved slightly higher, lifting the far curve.|
|Market Open||Market Open|
|The UK gas system is 29mcm long this morning thanks to a rise in LNG flows, with 2 deliveries docking on the Isle of Grain. Norwegian flows into the UK are also close to capacity via the Langeled pipeline, however demand is up due to weaker wind levels. Prices remains bullish this morning, as commodities remain supportive.||Most contracts along the power curve display minor gains this morning, with renewable availability expected to decrease again tomorrow. Healthy gas supply has kept a lid on the near curve but a rise in carbon offers support further out.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices have found some direction from Hurricane Delta which has caused disruption to oil production in the US. However, the US financial stimulus packed is expected to be put on hold until after the November presidential election, weighing on markets.
1-year forward prices
Market close data has revealed that the 1-year forward price for commercial gas increased, while commercial moved down, closing at 39.22ppt and £47.30/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.