|Market Close||Market Close|
|Gas prices weakened on Monday with an expected rise in temperatures, healthy supply and a stronger wind generation forecast weighing on the front of the curve. Meanwhile, fuel markets offered little support and movement at the back of the curve was also bearish.||Power prices followed their gas counterparts and moved down yesterday, with additional bearish pressure provided by a fall in carbon and a stronger Pound. Far-curve prices also closed at a discount with direction coming from further decreases on the coal market.|
|Market Open||Market Open|
|The UK gas system has opened long this morning as supply levels remain strong, resulting in losses on the near-curve. However, contracts at the back of the curve have added to their price thanks to a rise in carbon, oil and power.||Carbon has rebounded this morning and oil continues to move higher resulting in gains on the power curve. Coal and some gas contracts are also up, although the Pound has strengthened further, limiting some of the upward movement.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices have increased overnight as overall market sentiment is unchanged with traders taking direction from global production cuts and issues in Venezuela.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 48.63ppt and £53.76/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.