|Market Close||Market Close|
|Gas prices decreased during Wednesday’s session, particularly on the near-curve as warmer weather and improved renewable power generation should reduce demand. Further out, the losses were less significant due to a rise in oil and carbon.||Power prices followed their gas counterparts and moved down yesterday, with a drop in feedstocks also a factor. Stronger oil and carbon offered some resistance, while the front of the curve was pressured down by a warmer and windier weather outlook.|
|Market Open||Market Open|
|The system is oversupplied this morning but gas prices have inched higher due to a supportive oil market. Coal has also increased, along with carbon during a bullish start to the session.||Power prices have followed gas again this morning and display gains, with bullish pressure provided by higher carbon, feedstocks and equities. However, an improved supply/ demand outlook has helped the prompt open at a discount.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices have moved higher as potential production cuts in the US continue to support the market, although there are some doubts on the willingness of Russia and Saudi Arabia to cap output.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased – closing at 33.10ppt and £40.23/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.