|Market Close||Market Close|
|The latest EIA report resulted in weaker oil prices yesterday afternoon which transferred to the gas curve, with a significant drop in coal prices also a contributing factor. The prompt erased its morning gains and ended the session almost unchanged, with an expected rise in supply via Bacton SEAL helping to weigh on the near-curve.||Power prices moved down yesterday afternoon, following their gas counterparts, with weaker coal and oil dictating movement across the curve. Stronger wind levels are expected later in the week which will reduce CCGT demand, providing additional bearish pressure.|
|Market Open||Market Open|
|The UK gas system is almost 20mcm long this morning as flows have improved and CCGT demand is little changed as a rise in imports and other sources helped to make up for a drop in renewables. Losses can be observed across the curve on the back of weaker fuel markets, oversupply and a healthier wind outlook.||Movement across the power curve is minimal this morning as coal and oil markets are flat and gas prices have moved down. However, a stronger outlook for wind generation has resulted in a loss on the prompt, while a weak Pound has restricted downward movement at the back of the curve.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices have decreased by around 3% following the release of yesterday’s EIA report and now trade around $72.3/b. The report showed that crude stocks did not fall by as much as anticipated at the start of the week, while gasoline stocks increased.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 59.28ppt and £58.38/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.