|Market Close||Market Close|
|Prompt gas prices decreased on Tuesday thanks to an oversupplied system and a drop in carbon. However, coal and oil prices supported the far-curve. Norwegian flows were expected improve later in the week and mild weather should weigh on demand, adding to the bearish sentiment.||Power prices on the near-curve moved down on Tuesday with direction coming from weaker gas and carbon contracts. Stronger coal offset any losses further along the curve, while the outlook for oil remained very supportive.|
|Market Open||Market Open|
|The system has opened long again this morning, while coal and carbon markets have eased, contributing to losses along the gas curve. Bullish oil continues to offer support but has failed to limit downward movement. Meanwhile, Russian flows into Europe have increased, weighing on markets across the continent.||Sentiment on the power curve is unchanged this morning with stronger coal & oil providing support at the back of the curve and weaker gas & carbon weighing on the near-curve. A milder weather forecast and healthier renewables has helped the prompt shed from its price.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent continues to climb higher and trades at $79.5/b this morning with support provided by bullish API figures, comments from Russia regarding the fragility of the oil market and on-going concerns relating sanctions on Iran.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & while commercial electricity decreased – closing at 70.55ppt and £67.75/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.