|Market Close||Market Close|
|Oil continued to act as the main market driver yesterday, following significant losses in the previous session which helped to weigh on contracts across the gas curve. Coal prices also inched down, while fundamentals were largely unchanged as the system remained long despite high exports and reduced flows from Norway.||Power prices moved down during yesterday’s session with direction provided by falling gas, coal and oil markets. Weak renewables limited losses on the prompt as more expensive gas-fired power generation was needed to make up the shortfall.|
|Market Open||Market Open|
|Gas prices have recorded minor gains at the front of the curve as the system has moved closer to balance due to weaker supply, strong exports to Europe and a rise in CCGT demand as a result of low wind power. The short term outlook for coal and oil remains bearish but both markets have stabilised this morning.||A rebound in gas prices has helped to lift some power prices at the front of the curve, while coal and oil markets are almost unchanged. Renewable power remains very weak but should improve over the weekend and next week, resulting in a loss on the prompt.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices have stabilised around $74.5/b following a huge loss on Wednesday, with bearish sentiment provided by the US/ China trade war and the expected rise in Libyan output. However, upward pressure was provided by a supportive IEA report yesterday.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 57.12ppt and £57.19/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.