13th April 2017 | Posted by: Daniel Birkett | Market Analysis

Gas Power
Market Close Market Close
Gas prices displayed mixed movement yesterday following an announcement by Centrica confirming that the Rough storage facility would be unavailable until May 2018 at the earliest, read more here. Comfortable supply levels provided some bearish pressure at the front of the curve, while stronger oil supported contracts on the far-curve. Power contracts followed gas and added to their price on Wednesday, with further support provided by bullish oil. Wind generation was also forecast to drop significantly today which was the main factor behind increases on the prompt.
Market Open Market Open
The news regarding Rough continues to push gas contracts higher this morning despite a healthy supply/ demand outlook, resulting in varied movement at the front of the curve. Temperatures are also expected to decrease further next week, offering additional support to the bulls. The majority of power contracts have climbed higher this morning with direction coming from rising gas, as a result of Rough’s unavailability. However, oil prices have weakened, contributing to some losses further along the curve.

For a breakdown of the current generation mix visit our Power Generation Insights page.

Brent Summary

Brent 1st-nearby prices have moved down this morning following the release of the latest EIA stocks report which reaffirmed oversupply issues; Brent currently trades around $55.7/b.

1-year forward prices

Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased – closing at 43.43ppt and £42.81/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

energy price graph - 13-04-2017

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.