|Market Close||Market Close|
|Gas prices decreased during yesterday’s session despite a supply shortfall caused by Norwegian maintenance and a drop in LNG send-outs. However, the amount of scheduled LNG deliveries expected to arrive in the UK was increased, resulting in bearish movement at the front of the curve.||Power contracts traded down on Tuesday, with direction coming from weaker gas, coal and feedstocks, while oil and carbon also displayed minor losses. In terms of fundamentals, temperatures are expected to turn warmer next week which will offset weak renewable availability.|
|Market Open||Market Open|
|The UK gas system is still slightly undersupplied this morning but the expected rise in LNG supply continues to pressure down near-curve prices. Meanwhile, a drop in coal, carbon and power markets has resulted in losses on the far-curve, while oil prices are stable.||Commodity markets remain bearish this morning, with coal, oil and carbon displaying additional losses. Gas is the main power source in Europe right now as renewables are low and numerous nuclear and lignite plants are down for maintenance.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices moved down yesterday as the EIA revised down demand growth for 2019. However, the market remains volatile due to supply uncertainty.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 47.85ppt and £52.40/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.