|Market Close||Market Close|
|Near-curve gas prices moved down on Friday on the back of improved Norwegian flows, as maintenance work was concluded. The system was long throughout the session and the LNG outlook remains healthy with numerous deliveries expected in the UK and France this week. Further out, a falling oil market helped to weigh on contracts, although a weak Pound limited the losses.||Power contracts decreased on Friday afternoon although upward movement on the coal market offered some resistance. The majority of contracts followed their gas counterparts which were pressured down by healthy supply and weaker Brent.|
|Market Open||Market Open|
|Gas prices remain bearish this morning as fundamentals are relatively unchanged from Friday. The system has opened long despite a rise in demand as LNG send-outs and UKCS production have increased. Exports to Belgium remain at full capacity and Norwegian flows are very comfortable, contributing to the healthy supply picture across Europe. Wind generation is also expected to rise later this week which will result in less CCGT demand.||Movement on the power curve is mixed this morning with rising coal prices contributing to some gains on the far-curve. The prompt continues to add to its price due to weak renewable generation, while bullish movement on the rest of the near-curve has been restricted by weaker gas contracts.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices continue to fall and currently trade around $46.7/b, with last week’s bearish stocks report providing on-going downward pressure.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 41.70ppt and £43.06/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.