|A further increase in EUA prices meant European gas prices continued to rally on Friday. Concerns over low stock levels continued to add support to winter 18 prices.
|On the back of lower wind output expectations in Germany, European spot power prices increased on Friday. On the far curve, prices rose significantly, supported by higher clean gas and coal costs.
|EUA prices jumped again at the open this morning which should provide further support to European gas prices. Unplanned outage in the UK along with a downward adjustment in temperatures remains supportive for prompt contracts. A bullish outlook is the feeling this morning.
|Tight fundamentals are expected to continue to support spot power prices today. Further out, a bullish outlook is favoured as fuel costs should remain supportive.
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent already climbed +70 cents since Friday morning and the North Sea benchmark is heading towards $77.5/b at the moment. It is looking like there is room for increase as Brent approaches the $80/b mark.
1-year forward prices
Market close data revealed that the 1-year forward price for both commercial gas and commercial electricity increased – closing at 72.11ppt and £70.53/MWh.
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Today’s prices can also be found in an easy to read table on our ‘current UK energy price' page.
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.