|Market Close||Market Close|
|Gas prices closed at a premium on Thursday, taking direction from rising coal and oil markets. Fundamentals were little changed with Norwegian maintenance continuing to restrict flows into the UK, although healthy LNG send-outs helped to balance the system.||Wind levels were expected to drop significantly at the start of this week which helped the prompt move higher on Friday. Further out, prices were supported by an increase on coal and oil markets, with a drop in carbon having little impact.|
|Market Open||Market Open|
|The UK gas system is undersupplied this morning as Norwegian flows have been reduced further, while weak wind levels have led to a sharp rise in gas-fired power demand. Meanwhile, coal and oil markets display further gains and sentiment along the gas curve is bullish.||Low wind levels and colder weather has helped to lift near-curve power prices this morning as the UK is currently reliant on more expensive gas-fired power. Oil and coal display additional gains, with carbon and feedstocks also opening higher, supporting the far-curve.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices continue to move higher as the Federal Reserve announced it would ‘act as appropriate’ to help support economic growth in the US; Brent currently trades around $61.5/b.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased – closing at 44.47ppt and £50.66/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.