|Market Close||Market Close|
|Gas prices decreased yesterday with the stronger losses displayed at the front of the curve. Supply levels were healthy, offsetting a rise in demand, while the short term weather outlook is mild, contributing to the bearish sentiment.||Power contracts shed from their price on Monday, following their gas counterparts and ignoring a rise in carbon. Renewables were low but an improvement was expected today, weighing on the prompt.|
|Market Open||Market Open|
|The system is slightly short this morning as flows into the UK are slightly down, however, CCGT demand is lower, reducing the impact. Meanwhile, oil, coal and power markets show a minor recovery, resulting in small gains across the gas curve.||Temperatures could vary over the next 10 days which has offered some support to the power curve this morning. Wind generation has increased significantly, limiting gains on the prompt, while carbon continues to provide bullish pressure further out.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices continue to hover between $61/b and $63/b with little to drive the market at present. The US/ Chinese trade dispute is an on-going factor, while the impact of production cuts has died down.
1-year forward prices
Market close data has revealed that the 1-year forward price for commercial gas increased, while commercial electricity posted a loss – closing at 51.72ppt and £54.18MWh, 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.