|Market Close||Market Close|
|Bank holiday in most countries meant European gas prices traded mostly sideways on Friday. Most contracts traded at all time lows, however steady Brent prices above the $30/b mark played into the bullish sentiment on the far curve.||Power prices along the curve rose on Thursday, lifted by a stronger energy complex. As with gas, bank holiday across Europe on Friday meant that trading volumes for power were very low at the back end of last week.|
|Market Open||Market Open|
|The system is 30mcm long in the UK this morning as Norway reroutes gas destined for France to the UK due to pipeline maintenance. Gas prices are sideways in early trade action. Economies look to restart across Europe which should provide support to prices through the week.||Wind output is expected to fall back down as quickly as it rose over the next couple of days, offering some support to the spot prices. However, a downward correction is expected as concerns still linger about the power demand recovery.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Despite signs of a possible recovery, oil prices remained capped for most of last week. Brent 1st nearby prices opened this morning at $30.97/bbl.
1-year forward prices
Market close data has revealed that the 1-year forward price for commercial gas increased whilst commercial electricity decreased – closing at 31.03ppt and £38.85/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.