|Market Close||Market Close|
|Reduced flows via the IUK pipeline limited losses at the front of the curve yesterday but the sentiment remained bearish as mild weather was expected to continue today. Further out, the majority of contracts moved down, with direction coming from weakening coal and oil markets. However, the Euro rebounded against the Pound slightly which offered support to some contracts.||Prompt power contracts moved higher at the start of yesterday's session as temperatures were expected to turn colder next week. However, higher nuclear availability in France and falling fuel markets resulted in downward movement as the session progressed.|
|Market Open||Market Open|
|The UK gas system is 15mcm long this morning despite ongoing outages in Norway, resulting in further downward movement on the near-curve. Temperatures for next week have also been revised higher and should remain above the seasonal norm in the UK. Meanwhile, falling Brent and coal continues to apply downward pressure on the far-curve.||Power contracts have shed from their price this morning, mirroring movement on the French market, with another drop in APi2 coal and the NBP price also a factor. The return of nuclear reactors in France has eased winter supply concerns, while current consumption levels are lower than the seasonal average.|
Brent 1st-nearby prices continue to move down despite a bullish EIA stocks report, dropping by more than $1/b since yesterday's open; uncertainty regarding OPEC production cuts remains the main market driver.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased - closing at 41.90ppt and £43.04/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.