|Market Close||Market Close|
|Gas prices at the front of the curve moved higher during Thursday’s session, while contracts further out continued to move down. Far-curve prices ignored a rise in coal and oil, while the near-curve found support from the colder weather outlook.||Power prices tracked movement along the gas curve, with spot prices showing an increase and far-curve prices moving down. A sharp drop in wind levels was forecast for today which supported the prompt, while the rest of the near-curve was influenced by a cold weather outlook.|
|Market Open||Market Open|
|The UK gas system is close to balance this morning due to higher demand levels as Norwegian and LNG flows are healthy, while storage levels are at full capacity. The tightening of supply has led to more gains at the front of the curve, while a drop in commodity markets has weighed on the far-curve.||Coal, oil and carbon markets display losses this morning which has helped to pressure down most power contracts, although some support was offered to the near-curve by gas. Wind levels are currently well below the seasonal norm and temperatures should remain around current levels next week.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices continued to climb higher yesterday but have calmed this morning and display a small loss. An increase in US inventories, uncertainty surrounding the US/ China trade deal and the announcement of a hold on interest rates by the Bank of England are the main market drivers at present.
1-year forward prices
Market close data has revealed that the 1-year forward price for commercial gas displayed a loss, while commercial electricity increased – closing at 44.42ppt and £50.43/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.