|Gas price displayed gains on Thursday as a result of unplanned outages affecting UKCS and Norwegian output. LNG send-outs were also slightly weaker and bearish oil prices had little impact on the far-curve.
|Rising gas prices helped to support their power counterparts yesterday, although a slight rise in wind generation was forecast for today, helping the prompt to move down. Solar power should remain quite low throughout August, while a bullish coal market helped far-curve prices close at a premium.
|Gas prices are weaker this morning with a bearish oil market and a balanced system weighing on contracts. UKCS production has improved but this was slightly offset by an increase in exports via the IUK pipeline. Meanwhile, LNG send-outs remain low despite 2 deliveries scheduled to dock at South Hook later this month.
|Power contracts are stable this morning with little change to wind and solar generation levels. Two nuclear units are also offline at Hinkley and Dungeness, restricting some of the downward movement at the front of the curve. Further out, decreases on the oil market have helped to weigh on some contracts but coal has held firm.
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices have corrected down as the OPEC monthly report displayed a rise in output. Output increased to 32.9Mb/din in July, higher than the 32.5Mb target set in November; Brent now trades around $51.5/b.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased slightly – closing at 44.34ppt and £44.67/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.