|Market Close||Market Close|
|A healthy supply picture across Europe and weaker demand levels helped to weigh on near-curve gas contracts on Friday afternoon. However, downward movement further along the curve was restricted by a strengthening oil market, with bullish coal also a factor.||Power contracts were pushed higher by their gas counterparts on Friday with stronger oil the main market driver. An improved solar generation forecast for the weekend helped to restrict upward movement on the prompt, while further gains on the coal market offered additional support further out.|
|Market Open||Market Open|
|Supply levels remain comfortable this morning which has helped to offset the effects of a cooler weather forecast and losses can be seen at the front of the gas curve. Further out, contracts are generally stable with coal and oil markets providing continued support.||Power prices have decreased this morning with direction coming from a weaker European market. Wind generation is expected to remain healthy throughout April and coal prices display a small loss, contributing to a bearish outlook for today’s session.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices continued to rise on Friday but have stabilised around $55.6/b this morning. Brent has almost recovered from the strong losses recorded at the start of last month, with oil prices rising by 10% since the 27th of March. The market is currently supported by supply disruptions and various political issues surrounding the US.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 43.40ppt and £42.72/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.