| Gas | Power |
| Market Close | Market Open |
| Gas prices decreased yesterday as supply levels improved following the end of maintenance at Norwegian facilities; this led to an 11% rise in exports to the continent compared to the end of last week. The UK gas system opened 50mcm long following this rise in supply, further helped by low demand and improved domestic production. | Movement on the power curve was bullish on Monday as overall generation levels were weaker and demand for cooling increased on the back of warm weather which was expected to continue today. Day-Ahead power rose by over £20/MWh as the supply/ demand picture was extremely tight as a result of unplanned outages at the weekend. |
| Market Close | Market Open |
| Norwegian imports via the Langeled pipeline have dropped to 5mcm this morning as flows have been rerouted back to the continent. However, the UK gas system remains well-supplied, while storage sites are close to full and exports to Belgium near capacity. The drop in Langeled flows has helped prompt contracts add to their price following yesterday's strong losses, while stronger Brent has offered support further out. | An expected rise in generation levels and a slightly cooler weather forecast for tomorrow has helped the prompt shed from its price this morning, although movement on the rest of the curve is largely bullish. Most contracts have followed their gas counterparts this morning, with a rise in coal and oil contracts also a supportive factor. |
|
Brent Summary Brent 1st-nearby prices decreased over the weekend and on Monday morning but corrected upwards in the afternoon with reports of a fall in Cushing stocks the likely driver. However, concerns regarding oversupply came back to the forefront and erased some of these gains overnight; Brent currently trades below $47.8/b. 1-year forward prices Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased - closing at 36.78ppt and £41.59/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.