|Market Close||Market Close|
|Gas prices eased down on Wednesday thanks to an oversupplied system and a milder weather outlook for the coming week. Additional bearish pressure was also provided by weaker power and carbon markets, but rising coal and oil offered resistance on the far-curve.||Near-curve power decreased due to the expectation of milder temperatures, although a weaker wind outlook for today helped to support the prompt. Further out, prices followed the direction of bearish feedstock, gas and carbon markets.|
|Market Open||Market Open|
|The gas system has opened long once again this morning due to a drop in demand and slightly improved supply. This has helped to weigh on the front of the curve, with the prompt recording a strong loss due to a weaker demand forecast for tomorrow. On the far-curve, prices have rebounded slightly following gains on the oil market||Power prices display little change this morning with gas, coal and carbon markets failing to offer much direction. The short term weather outlook is mild but cold temperatures could return towards the end of the month, providing mixed sentiment to the front of the curve.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices have climbed to over $61.4/b as the end of the US/ Chinese trade war is in sight. However, some bearish resistance was provided by the latest EIA report which confirmed that the decrease in production levels was not as significant as suggested last week.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 57.10ppt and £58.07/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.