|Market Close||Market Close|
|Gains could be observed across the gas curve yesterday with direction coming from a stronger oil market, as the impact of the US presidential election was short-lived. Cold temperatures were also a supportive factor for near-curve contracts, despite a long gas system.||An increase in European fuel prices helped power contracts inch higher on Thursday, with colder weather also restricting downward movement on the prompt. The French and UK grids were both tight, while wind generation was expected to remain low in the short term.|
|Market Open||Market Open|
|Gas prices have moved down this morning as the UK gas system is well-supplied and milder temperatures are expected next week which will weigh on residential demand. An increase in imports via the IUK pipeline is anticipated today which could lead to further decreases on the near-curve. Oil prices have also posted a loss which has provided additional downward pressure on the far curve.||Gains can be seen at the front of the power curve this morning but movement further out is largely bearish. On-going supply concerns this winter continue to offer strong support, although a milder weather outlook for next week has limited some of the upward movement on the prompt. Further out, contracts have been dictated by weaker coal, gas and oil prices and display a decrease.|
Brent 1st-nearby prices have posted a loss this morning and currently trade below $45.9/b; overall fundamentals are unchanged and pessimism in regards to OPEC cuts continues to pressure down prices.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased - closing at 45.90ppt and £46.69/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.