|Market Close||Market Close|
|The bullish trend in European gas prices showed no sign of stopping yesterday as EUA prices sent a bullish feel to the whole energy complex in Europe. At the close, NBP ICE month ahead prices traded at a record high of 76.32 p/th, such levels not seen since November 2008.||European spot prices eased yesterday, whilst prices on the far curve rose to new highs, mainly supported by strong gains on the EUA prices. The pressure from rising coal and gas prices added extra input.|
|Market Open||Market Open|
|Most gas contracts around Europe are now strongly overbought which could encourage some profit taking after the gains recorded in the last few days. Strong oil prices could be supportive for coal and gas prices. Overall, a stable outlook for the day.||With a comfortable supply, European spot power prices should push lower today. Further out, profit taking could potentially end the rally and drive Cal 2019 power prices lower.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
The rally resumed for Brent this week, keeping the $80/b mark in sight as it opens this morning at $77.8/b.
1-year forward prices
Market close data revealed that the 1-year forward price for both commercial gas and commercial electricity increased – closing at 71.35ppt and £69.26/MWh.
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Today’s prices can also be found in an easy to read table on our ‘current UK energy price' page.
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.