|Market Close||Market Close|
|An oversupplied system pressured down near-curve gas prices during Friday’s session. Bearish sentiment was also provided by a mild weather forecast for the start of this week, while the far-curve found direction from weaker coal, ignoring a recovery on the oil market.||Healthy wind generation helped to weigh on the prompt on Friday but the rest of the curve found some support from a rise in Brent. However, weaker coal and gas helped to limit any upward movement and any increases were minor.|
|Market Open||Market Open|
|The system remains long this morning with 17 LNG deliveries also expected to dock in the UK in the coming weeks, including eight scheduled for today and tomorrow. Exports have increased to create room for LNG supply and Norwegian flows are stable, resulting in additional losses at the start of the session.||Power prices have moved down this morning following a drop in carbon and feedstocks. The prompt is one of the few contracts to climb higher as a significant drop in wind generation is expected tomorrow, with lower levels also forecast for the rest of the weak.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices increased as Saudi Arabia announced its intention to remove a further 400,000 barrels a day from the market following the recent OPEC meeting.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 39.62ppt and £46.15/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.