|Market Close||Market Close|
|Gas prices continued to trade sideways yesterday as commodities offered mixed sentiment, with oil trading lower and carbon, coal & power markets recording gains. The system was also tighter due to reduced imports, although an expected rise in renewable power today helped to weigh on the prompt.||Power contracts added to their price on Thursday, finding support from bullish carbon allowances and coal. Weakening oil continued to impact the overall energy complex but UK power was resilient.|
|Market Open||Market Open|
|The system is undersupplied this morning which has resulted in upward movement at the front of the curve. However, overall movement is bearish as carbon, coal and power have opened at a discount.||Commodities have opened lower this morning which has prevented many gains across the power curve. However, weak renewables are expected over the weekend and next week which has helped the prompt record a strong gain.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices continue to display a bearish trend but have stabilised somewhat, trading around $40/b this morning.
1-year forward prices
Market close data has revealed that the 1-year forward price for commercial gas decreased, while commercial electricity recorded a gain, closing at 35.25ppt and £46.94/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.