|Gas prices moved higher yesterday following increases on coal and carbon markets. However, healthy supply and a mild weather outlook in the short term restricted upward movement at the front of the curve. LNG send-outs in particular remain strong, with 5 deliveries expected to dock in Europe this weekend.
|Power prices increased across the curve on Wednesday as biomass feedstocks were on the rise, while coal and carbon rebounded. Fundamentals were little changed with temperatures set to remain mild as we head into next week, although an expected drop in wind levels offered additional support to the prompt.
|The system is slightly oversupplied this morning as Norwegian flows have improved and temperatures remain above the seasonal norm which has weighed on LDZ demand. Despite the comfortable supply picture, contracts display further gains with direction coming from rising coal and carbon, in addition to increased storage withdrawals.
|Power contracts continue to move higher this morning, supported by gas, coal and carbon prices, while Brent is almost unchanged. Temperatures are above the seasonal norm, weighing on heating demand but wind levels are weaker and little change is expected tomorrow.
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices have been range-bound between $72-$73/b over the last 4 sessions and trade just below $72.1/b this morning. Sanctions on Iran failed to have much impact on oil markets, while yesterday’s EIA report was mostly bearish.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased – closing at 61.75ppt and £60.20/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.