|Market Close||Market Close|
|A bullish oil market was the main market driver during Monday’s session, with energy markets increasing in unison, from coal to power. The colder weather forecast offered some support but this was offset by strong supply levels.||Power prices followed the global energy complex and traded higher yesterday, with coal, oil, gas and carbon allowance contracts all displaying gains. However, the prompt managed to record a loss due to an expected rise in wind and solar availability.|
|Market Open||Market Open|
|UK gas prices have opened lower this morning as the system has moved closer to balance and more LNG cargoes are set to arrive. Further out, prices have also moved down due to a slight retracement in oil.||Improved wind generation has helped to weigh on the prompt, although cooler weather offers some resistance. Meanwhile, a healthier outlook for gas supply and downward movement on commodity markets has resulted in losses across the rest of the near curve.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent Crude has moved down overnight as damage at Saudi Arabian oil facilities is minimal following the weekend’s drone attack and any outages are expected to be resolved quickly.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased, closing at 45.70ppt and £56.77/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.