|Market Close||Market Close|
|Maintenance is taking place at a number of North Sea facilities, including the Troll gas field which offered support to prices during Monday’s session, as flows to the UK and Europe were hampered. Meanwhile, rising oil and carbon continued to provide bullish pressure further along the curve.||Power prices displayed gains yesterday due to tighter gas supply and higher demand, with an expected drop in wind power today also lifting the prompt. Further out, contracts were pushed upwards by stronger carbon, oil and coal.|
|Market Open||Market Open|
|The UK gas system has opened 8mcm long this morning which has resulted in some downward movement across the near curve. However, demand remains unseasonably high and maintenance in Norway continues to restrict supply.||The majority of prices have opened at a discount this morning but overall fundamentals remains bullish in the short term. Carbon EUA prices continue to surge higher and have now surpassed €50/ tonne, providing on-going support to energy markets.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent Crude remains bullish due to the ransomware attack in the US which resulted in the shutdown of the Colonial Pipeline – this pipeline supplies 45% of the East Coast's diesel, petrol and jet fuel.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased, closing at 59.56ppt and £69.78/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.