|Market Close||Market Close|
|Gas prices increased yesterday, although trading on European markets was subdued due to the Whit Monday holiday. Weak wind levels, a drop in LNG send-outs and a reduction in Norwegian output resulted in an undersupplied system which supported the near-curve. Meanwhile, the far-curve was pushed higher by stronger fuel markets.||The power curve found support from rising gas, coal, carbon and feedstock prices during Monday’s session. Numerous European markets were closed but overall sentiment remained bullish, with tighter gas supply and weak renewable availability a factor.|
|Market Open||Market Open|
|The UK gas system remains short this morning as planned maintenance in Norway continues to reduce imports to the UK, while cooler weather has lifted demand. Further out, prices have ignored a drop in coal and have followed rising carbon, power and oil markets.||Fuel markets display no clear trend this morning with contracts moving in different directions, however, sentiment on the power curve is largely bullish. A cool weather outlook for the rest of this week has supported the prompt, in addition to an expected drop in wind levels.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices have corrected down this morning as the effects of Russia’s commitment to extend production cuts have died down, with the global economic slowdown also limiting demand growth.
1-year forward prices
Market close data has revealed that the 1-year forward price for commercial gas displayed a loss, while commercial electricity moved higher – closing at 49.61ppt and £54.73/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.