|Market Close||Market Close|
|European equity markets saw some of the biggest single day drops on record yesterday, transferring to commodity markets. Brent, coal and carbon all displayed strong losses which pressured down longer dated gas contracts, although the near-curve found some support from a healthy supply outlook.||Power prices decreased yesterday, following every other market in Europe in one of the worst financial days since 1987. Renewable generation was also expected to drop significantly today, offering further support to the prompt.|
|Market Open||Market Open|
|The UK gas system is slightly undersupplied this morning and oil displays a small rebound which has helped to push gas prices higher. However, equity markets remain extremely weak and the bearish trend is set to continue for the foreseeable.||Power prices continue to mirror other energy markets and display a rebound this morning. Tighter gas supply and a sharp drop in wind generation has helped to lift the prompt, while the rest of the curve has followed gas, coal and carbon.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices fell to their lowest point this week during Thursday’s session as market fundamentals are unchanged with Russia and Saudi Arabia set for an oil share war.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity moved higher – closing at 30.59ppt and £38.58/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.