|Market Close||Market Close|
|Increases across coal, carbon and oil markets helped to lift gas contracts yesterday afternoon, with Brent in particular rising by over $1/b due to supply issues. The Pound also weakened against the Euro, providing additional bullish pressure, while the supply/ demand picture was almost unchanged from last week.||Power prices rallied higher on Monday with support coming from gas, carbon, coal and oil, as the overall energy complex is bullish at the start of this week on the back of planned strikes and annual maintenance. Wind generation remained low but was forecast to improve slightly today, limiting gains on the prompt.|
|Market Open||Market Open|
|Supply levels are little changed and the system is slightly long due to a small drop in demand. Wind levels are around 1.5GW higher, weighing on CCGT demand, while imports from Russia into mainland Europe have increased to fill the hole left by planned maintenance in Norway. However, prices continue to follow bullish fuel markets, with coal and oil displaying further gains.||Fuel markets continue to strengthen this morning and despite a slight increase, renewable power remains weak, helping prices move higher across the curve. Generation levels and demand are secondary factors at present as coal and oil remain the main market drivers.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices have climbed to around $78.75/b with direction coming from short term supply disruptions and a planned strike at North Sea oil and gas platforms.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased – closing at 59.47ppt and £57.93/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.