|Market Close||Market Close|
|Gas priced edged lower again yesterday. A front month loss of 1.65p/th was seen, pressured by bearish fundamentals and weak carbon. Weather revisions have also pushed temperatures up for the remainder of the year, helping ease down the demand.||UK power followed gas and traded lower yesterday with front month, summer 20 and winter 20 posting losses of £0.58/MWh, £0.38/MWh and £0.51/MWh, respectively. A lower wind forecast did however offer some support to day ahead prices.|
|Market Open||Market Open|
|Day ahead gas has lowered by around 1.80p/th this morning, with reduced gas-for-power demand. With healthy stock and a mild weather outlook, there is generally bearish outlook with potential for further price weakness.||Power market has continued to weaken this morning with prices being generally unchanged, following weaker gas prices. Weather forecasts have meant the near curve contracts are trading lower. Further out, the market is generally stable, with very slight losses made on winter 20 contracts.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent Feb 20 contract posted a loss of $0.28/b yesterday. Much of this loss was felt after the EIA report which confirmed an 822,000 barrel build in US crude inventories. Brent currently trades at $63.72/b.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 38.65ppt and £45.76/MWh, respectively.
click to enlarge.
Today’s prices can also be found in an easy to read table on our ‘current UK energy price' page.
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.