|Market Close||Market Close|
|A cooler weather forecast and ongoing supply constraints limited losses yesterday, although a slightly oversupplied system contributed to some bearish movement on the near curve.||The prompt found support from an expected drop in renewable generation and cooler weather today, with tight gas supply helping towards gains across the rest of the near curve. Carbon markets also continued to increase which impacted the far curve.|
|Market Open||Market Open|
|On-going strengthening on carbon and oil markets continues to support the gas market this morning, with the majority of prices displaying a strong increase. Supply into the UK also remains tight due to Norwegian maintenance, lower LNG send-outs and a reduction in Russian flows to mainland Europe.||Power prices display significant gains this morning, following the overall energy complex, with oil and EUA carbon markets the main drivers. Weaker weather fundamentals also offer additional support to spot prices.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent Crude has increased again as another decline in US crude stocks is expected to be published in today’s report. Meanwhile, the Colonial Pipeline is set to return to full capacity by the weekend following the recent cyber-attack.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased, closing at 62.02ppt and £71.96/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.