|Market Close||Market Close|
|Gas prices fluctuated throughout Monday’s session, initially opening the session at a discount, before increasing to their highest level this year so far and then decreasing again. Prices were dictated by commodity markets in one of the most volatile trading days in a number of months.||Power prices tracked their gas counterparts and showed mixed changes throughout the session, with coal and carbon contracts also moving in different directions, adding to the volatility.|
|Market Open||Market Open|
|The UK gas system is slightly short this morning as supply levels are down and demand has risen. Meanwhile, coal and carbon markets are higher and combined with the tighter supply picture, gas contracts have added to their price.||A rise in gas and coal has helped to support power prices this morning, with an expected drop in wind levels for the rest of the week preventing losses on the prompt. A milder weather outlook for the coming weeks has also capped some of the upward movement on the rest of the near-curve.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices have climbed above $71/b as the bullish momentum continues, however, some resistance could be provided by comments made in Russia in regards to a potential increase in output after June.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased – closing at 53.91ppt and £55.83/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.