|Market Close||Market Close|
|Scheduled outages at facilities in the UK Continental Shelf limited flows to the UK yesterday, providing support to contracts at the front of the curve in the afternoon; although gains were capped by weak demand levels. Further out, prices were pushed higher by rising EUA carbon contracts, however, bearish Brent offered some resistance.||Near-curve power contracts increased yesterday with bullish pressure provided by gains on the gas curve. Further out, prices were dictated by the coal market, with prices rising above $90/tn. Strong support was created by a dispute in South Africa between unions and the energy provider, Eskom; this could significantly reduce coal production and exports.|
|Market Open||Market Open|
|The system is 12.6mcm short this morning as outages have reduced supply levels. Below average residential demand and a slight decrease in CCGT demand failed to limit the gains which can be seen across the near-curve. Meanwhile, weak oil prices and a stronger Pound has helped to cap upward movement at the back of the curve.||Power prices display mixed movement today with a healthy renewables and low demand forecast for tomorrow helping the prompt open at a strong discount. Coal prices remain above $90/tn with no change to the situation in South Africa, while weaker oil prices have limited any upward movement at the back of the curve.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices have decreased since yesterday’s open and trade just below $75.9/b. Bearish pressure has been provided by uncertainty surrounding the likely decision in the next OPEC meeting in regards to production cuts.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased – closing at 56.22ppt and £54.98/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.