|Market Close||Market Close|
|Gas prices decreased throughout Monday’s session as a result of stronger imports from Norway and healthy UKCS production, with a rise in demand levels having little impact. An increase in Russian imports resulted in comfortable systems across Europe, adding to the bearish sentiment, although oil prices remained supportive.||Power contracts moved down yesterday, following falling gas and coal markets, with improved renewable generation also a factor. A rise in consumption levels did little to support the near-curve, while oil prices were stable.|
|Market Open||Market Open|
|Residential demand has risen further this morning but healthy supply levels continue to weigh on near-curve gas contracts. A technical rebound cannot be ruled out but the outlook remains bearish despite further gains on the oil market.||The power curve displays further losses this morning with direction coming from a weaker gas market. A rise in wind and solar generation has provided additional bearish pressure at the front of the curve, while weaker coal prices have helped to weigh on far-curve contracts.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices added to their price for the fifth consecutive session yesterday and trade just below $56/b this morning. Supply disruptions in Libya continue to offer support, while negotiations to extend the OPEC deal are on-going.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 43.08ppt and £42.42/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.