|Market Close||Market Close|
|The supply/ demand picture was mixed on Friday with strong wind levels reducing the need for CCGT power and colder weather lifting residential demand. Movement at the front of the curve was minimal, while stronger fuel markets lifting far-curve contracts.||Healthy wind generation restricted upward movement at the front of the curve on Friday although solar power remained weak. Meanwhile, bullish coal and oil markets continued to support the far-curve.|
|Market Open||Market Open|
|Colder temperatures should lift demand levels this week but a milder outlook is forecast for the second half of September. The system has opened 19mcm long however, supply is expected to decrease as the session progresses; this has helped towards gains across the near-curve. Meanwhile, stronger oil and coal prices continue to support contracts at the back of the curve.||Power contracts have tracked their gas counterparts this morning and have increased across the curve. Wind generation is set remain high for the next few days, helping to restrict some of the upward movement, although levels should drop on Thursday and Friday. Solar power remains weak, while the oil market continues to strengthen.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices trade around $54.7/b this morning and have rebounded following Friday’s losses. Support has been provided by comments made by the Saudi Oil Minister in regards to extending production cuts beyond March 2018.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased – closing at 46.89ppt and £47.37/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.