|Market Close||Market Close|
|Gas prices closed at a discount on Monday, with the prompt showing the strongest loss thanks to a mild weather forecast and comfortable wind generation which will reduce demand today. The system was also oversupplied and coal & oil markets moved down, adding to the bearish sentiment.||Near-curve power prices displayed a slight increase yesterday afternoon, while contracts further out recorded losses. The back of the curve was pressured down by a drop in coal, gas and carbon prices, while any upward movement at the front of the curve was limited by a healthy short term supply outlook.|
|Market Open||Market Open|
|Gas prices are almost unchanged at the start of today’s session, with some support provided at the back of the curve by a rebound in coal and oil. Little direction has been provided by power prices as there has been no revisions to the supply/ demand outlook for this week.||Movement along the power curve varies this morning, although any changes are minor. Some contracts have found support from a rise in coal and oil, while gas and carbon markets are stable. Meanwhile, the prompt has moved higher as weaker wind levels are expected tomorrow.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices have moved down this morning following a slight rebound last night. Current movements are thought to be technical but support could be provided by Hurricane Michael which is nearing the Gulf of Mexico.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 68.46ppt and £65.41/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.