|Market Close||Market Close|
|Day-Ahead gas decreased during yesterday's session due to a heavily oversupplied system following a rise in Norwegian flows via the Langeled pipeline and higher UKCS production. Meanwhile, stronger wind power resulted in a decrease in gas-fired generation, reducing demand. Losses were evident across the near-curve but contracts further out found support from an increase in Brent.||Healthy wind generation and bearish movement on the gas-curve helped Day-Ahead power record a strong loss yesterday. Contracts across the near-curve tracked the downward movement of their gas counterparts, while rising Brent helped towards gains further out.|
|Market Open||Market Open|
|Demand for gas-fired power generation has reduced once again this morning following another increase in wind levels, while UKCS flows have also improved and the UK gas system remains well-supplied. Mild temperatures and a further increase in supply levels are expected next week which should help prompt contracts move down throughout today's session.||Near-curve power contracts have been pushed higher by increases on the oil market this morning, while the far-curve is generally stable on the back of a healthy supply outlook. Meanwhile, temperatures are expected to be above the seasonal norm next week which could result in higher consumption, providing further support to the prompt.|
Brent 1st-nearby prices continue to climb higher and have rose to above $49.4/b this morning following the release of latest stock figures which showed the largest drop for crude inventories since 1999.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased slightly - closing at 36.98ppt and £41.19/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.