|Market Close||Market Close|
Gas prices increased during Tuesday’s session due to a tightening of supply and an increase in trading. Supply issues in Norway have impacted European systems, while temperatures are expected to dip slightly later in the week, which supported the prompt.
|Power prices were pushed higher by rising gas and carbon yesterday, while coal also remained bullish. Wind levels are expected to pick up next week, limiting upward movement on the near-curve, while temperatures should be around the seasonal average.|
|Market Open||Market Open|
|The system remains short this morning as flows are still down and demand is little changed. This has resulted in some gains across the near-curve, although the prompt has moved down due to a warm weather and healthy renewable outlook for tomorrow.||Power contracts continue to move higher this morning as renewable availability has decreased and commodity markets display a further increase. Coal, carbon and gas have all strengthened, while oil is almost unchanged following a loss yesterday.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices have moved down since yesterday’s open and have stabilised this morning around $70.6/b. The latest EIA report showed growth in US domestic output which provided some bearish pressure.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased – closing at 54.25ppt and £58.05/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.