|Market Close||Market Close|
|Gas prices increased across the curve on Thursday, with longer-dated contracts displaying the larger gains. Bullish pressure was provided by stronger commodity markets, with planned maintenance also expected to reduce supply to the UK.||Power prices were on the rise yesterday, following stronger gas and carbon markets. However, wind levels were expected to rise significantly today which helped the prompt shed from its price, with healthy levels forecast for the weekend.|
|Market Open||Market Open|
|The gas system has opened long this morning despite the start of maintenance in the UK and Norway which is expected to cut supply by 60mcm per day. The near-curve has weakened slightly thanks to the current oversupply but far-curve displays minor gains due to a rise in Brent and carbon.||The power curve is stable-to-bullish this morning and commodity markets have calmed following a rebound yesterday. Wind levels picked up as expected, with healthy levels expected over the weekend before falling again next week.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices have increased due to expected OPEC cuts following comments made in Saudi Arabia in regards to supporting prices. However, the IEA states that oil demand growth is at its lowest since 2008.
1-year forward prices
Market close data has revealed that the 1-year forward price for commercial gas climbed higher, while commercial electricity recorded a minor loss – closing at 48.45ppt and £53.94/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.