|Market Close||Market Close|
|Gas prices were pushed higher by rising coal and oil markets in the morning but eased in the afternoon. Brent moved down towards the end of the session, weighing on the far-curve, while prices at the front of the curve were pressured down by an oversupplied system following a slight drop in CCGT demand.||Power prices inched down yesterday afternoon, erasing some of the morning’s gains. Direction was provided by losses on the gas market, with coal and oil markets also correcting downwards in the afternoon. However, the prompt was supported by weak renewables which lifted demand for gas-fired power.|
|Market Open||Market Open|
|The system remains long this morning despite a drop in renewable power which has contributed in losses on the prompt and across the near-curve. Meanwhile, coal and oil markets have settled down which has helped to weigh on contracts further out.||Power prices continue to follow weaker coal, gas and oil markets this morning as the US could impose another $200 Billion worth of tariffs on China which has impacted global fuel markets. The prompt is the exception to the bearish trend as renewables are down this morning and should remain weak tomorrow.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent climbed higher yesterday as supply disruptions are expected in the coming weeks and API figures were supportive. Brent rose to $79.51/b but has settled back around $78.9/b this morning with bearish pressure provided by the on-going dispute between China and the US.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 58.58ppt and £57.70/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.