|Market Close||Market Close|
|Gas prices continued to display a bearish trend during Tuesday’s session with high flows from Norway and record high LNG send-outs resulting in oversupply. Overall energy markets also weakened, applying further downward pressure to the far-curve.||Power prices were pressured down by weaker gas yesterday, with fuel markets opening at a discount with no recovery during the session. The prompt was the exception and displayed a strong gain as wind levels were forecast to plummet today.|
|Market Open||Market Open|
|A significant drop in wind availability has led to a sharp rise in gas-fired power, while residential demand has also increased; the system has opened balanced as a result despite strong supply. Gas prices display losses with an improved supply outlook for tomorrow, while commodities remain weak.||Coal, carbon and oil markets have opened lower once again, contributing to losses on the power curve. Temperatures remain around the seasonal norm, while wind generation is set to pick up tomorrow, helping the prompt to decrease.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices are stable-to-bearish this morning and trade below $62.1/b. Little has changed since last week in terms of fundamentals and traders have an eye on planned OPEC meetings in a few weeks.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 42.85ppt and £48.10/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.