|Market Close||Market Close|
|Gas prices moved higher yesterday as Co2 prices hit an eleven year high, with coal and oil also showing an increase. The system was also undersupplied due to a rise in gas-fired power, weaker LNG send-outs and restricted Norwegian flows.||A strong increase in carbon prices resulted in gains across the power curve on Wednesday, with gas, coal and oil markets all moving higher. Low wind availability was also forecast for today which will increase demand for gas-fired power.|
|Market Open||Market Open|
|Gas prices display further gains from yesterday’s close, with far-curve prices recovering from losses recorded in previous sessions. Fuel markets remain bullish, in particular, carbon, while the short term supply/ demand outlook is unchanged as the system remains undersupplied.||Co2 prices continue to rise this morning which has had a knock-on effect on power and gas markets. Gains can be seen across the curve, with weak renewables contributing to a stronger prompt, while rising Brent provides support further out.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices have increased by over $2/b as the market was hit by a number of bullish factors. Support was provided by the recent US stocks report and the expectation of a tropical storm in the Gulf of Mexico which will effect production in the area. Meanwhile, there have been reports that Iranian boats have attempted to intercept a British tanker and Navy intervention was required.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity moved higher – closing at 51.07ppt and £55.68/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.