|Market Close||Market Close|
|Gas prices were little changed on Friday, both on UK and European markets. Supply levels remained comfortable and milder weather should return to the UK in the second half of the month. Meanwhile, strong renewables should reduce reliance on gas-fired power.||Power prices inched higher on Friday, although the majority of contracts ended the week at a discount. Gas offered little direction but coal, oil and carbon all decreased to cap upward movement on the far-curve.|
|Market Open||Market Open|
|The UK gas system has opened balanced this morning and temperatures have been revised higher, with improved wind and solar availability expected; as a result, near-curve gas prices have moved down. Movement further along the curve is also slightly bearish thanks to a drop in coal, oil and carbon.||Most power prices are slightly weaker this morning thanks to the expectations of milder weather and stronger renewables which will weigh on demand levels. Meanwhile, gas and carbon have decreased, pressuring down some prices on the near-curve.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices have rebounded this morning as the Saudi energy minister claims that OPEC production cuts will continue until June at least.
1-year forward prices
Market close data has revealed that the 1-year forward price for commercial gas decreased, while commercial electricity moved higher – closing at 49.69ppt and £54.07/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.