|Market Close||Market Close|
|Contracts at the front of the gas curve were stable-to-bullish on Friday with annual maintenance, low LNG send-outs and higher storage injections impacting supply in the UK. Meanwhile, far-curve gas prices displayed minor losses towards the end of the session as coal and oil markets weakened.||Power prices were dictated by coal, gas and oil markets on Friday with near-curve prices climbing slightly higher and contracts further out moving down. Wind generation was forecast to remain low at the start of this week, while solar power will show little change; as a result, the UK will continue to rely on more gas-fired power which supported the prompt.|
|Market Open||Market Open|
|The system has opened balanced this morning with warm weather reducing residential demand and low wind levels lifting CCGT demand, while exports to Europe are unchanged. Movement at the front of the curve is minimal, with the exception of the prompt which has found support from weak renewable power, while the far-curve displays minor changes with little direction provided by fuel markets.||Weak renewables continue to support the prompt this morning, although upward movement on the rest of the near-curve is minimal thanks to a balanced gas system. Movement on the rest of the near-curve is mixed as the coal market has settled down following strong gains last week, while Brent appears range-bound between $78.5/b & $77.5/b.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices have stabilised and display a loss of just $0.20/b since the start of Friday’s session. Concerns regarding the US/ Chinese trade war have eased, while supply disruptions have offset the effects rising US stocks.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 58.40ppt and £57.15/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.