|Market Close||Market Close|
|Gas prices stabilised yesterday as movement on the oil market calmed, providing little direction to the curve. The supply/ demand picture was almost unchanged but a healthier renewable outlook should reduce CCGT demand over the next few days, weighing on the near-curve.||Near-curve power prices moved down yesterday, although movement further out was generally bullish. Cooler weather and improved renewables helped toward losses, while any gains were caused by a rise in coal prices.|
|Market Open||Market Open|
|The system has opened long this morning as flows from Norway are comfortable, while cooler and windier weather has reduced demand; although slightly warmer temperatures are expected to return in the second half of the month. Meanwhile, coal and oil markets have recorded minor losses and contracts at the back of the curve have opened flat.||Power contracts have eased this morning as coal, oil and carbon markets have ticked down. However, warmer weather and lower wind levels are forecast for the middle of next week, capping any losses at the front of the curve.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices trade just above $72/b as the oil market remains bearish following Wednesday’s EIA report. The on-going trade war could potentially slow economic growth, while sanctions placed on Iran could remove a huge amount of oil from the market.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased – closing at 59.30ppt and £58.97/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.