|Market Close||Market Close|
|Gas prices climbed higher during Monday’s session with a short system offering support to the front of the curve. Meanwhile, the back of the curve was pushed higher by coal and carbon markets, while a delay to the Brexit vote caused the Pound to fall, providing additional bullish pressure.||Power prices were on the rise on Monday, with support provided by an increase in coal, gas, carbon and biomass feedstocks. A weaker Pound helped the UK market increase more than its European counterparts.|
|Market Open||Market Open|
|The UK gas system has opened oversupplied this morning thanks to improved Norwegian flows, while storage levels show an increase during December; this has restricted upward movement on the near-curve. Further out, prices are generally flat with a drop in oil offsetting a rise in coal.||Power prices are little changed from the end of yesterday’s session, with the exception of the prompt and some near-curve contracts which have been pressured down by a weaker demand outlook.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices display a sharp loss as the effects of the recent OPEC announcement were very short-lived. Brent has fallen back to around $59.8/b as there are doubts whether the production cuts can be fully implemented, with further bearish pressure provided by a rise in US output and a weak demand forecast for crude oil.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased – closing at 60.55ppt and £60.24/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.