|Market Close||Market Close|
|Gas prices closed the week lower despite a small gain on Friday which was sparked by strengthening on the oil market. However, overall sentiment at the front of the curve remained bearish due to a healthy supply outlook as outages in Norway were scheduled to end over the weekend.||Power prices moved higher on Friday with direction coming from rising fuel markets, with gas, coal, oil and carbon all displaying a gain. However, upward movement was limited at the front of the curve by strong wind levels and temperatures which were below the seasonal norm.|
|Market Open||Market Open|
|The system is slightly short this morning due to a rise in demand as wind levels have dropped and temperatures are colder. Prices display minor gains at the front of the curve, while the focus for the far-curve is Brexit and its impact on the Pound.||Power contracts continue to follow the gas market and have climbed higher due to a drop in wind generation and temperatures which has increased reliance on gas-fired power. Oil prices continue to offer support further out but traders await the result of tomorrow’s Brexit vote.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices have climbed higher as OPEC and Non-OPEC nations reached a deal in regards to reducing production; with output set to decrease by over 1.2Mb in 2019.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased – closing at 60.18ppt and £59.49/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.