|Market Close||Market Close|
|Gas contracts shed from their price yesterday as the system was comfortable throughout the session and concerns regarding LNG supplies from Qatar eased; two LNG deliveries are expected to arrive in the UK early next month. Demand levels were rather low as strong wind levels led to a decrease in CCGT generation.||Gas prices continue to move down this morning as residential demand is 14mcm lower than the seasonal norm due to milder weather, with a further rise in temperatures expected over the next few days. Meanwhile, maintenance at the IUK interconnector has resulted in stronger supply in the UK as exports are restricted.|
|Market Open||Market Open|
|Losses could be seen across the power curve on Monday despite an expected drop in wind generation today. Solar power is set to improve this week alongside a rise in temperatures, applying downward pressure on near-curve contracts. Meanwhile, stable oil contracts and bearish movement on the coal market limited any gains on the far-curve.||Near-curve power contracts have decreased this morning, with upward movement displayed further out. Wind generation is expected to decline as the week progresses which could support prompt prices, while warm weather is forecast for the next 10 days, weighing on the Day-Ahead contract.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices display small gains this morning and trade just above $48.5/b. A decrease in exports from Saudi Arabia has offered support to prices, although strong oil drilling in the US continues to provide bearish pressure.
1-year forward prices
Market close data has revealed that the 1-year forward price for commercial gas decreased, while commercial electricity recorded a small gain – closing at 42.77ppt and £43.00/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.