|Market Close||Market Close|
|Gas prices ended the session at a premium yesterday, ignoring the recent trend over the last two weeks. Bullish sentiment was provided by optimism surrounding the US/ Chinese trade deal which helped to support coal and oil markets.||Power prices moved higher yesterday, tracking upward movement on gas, coal, carbon and feedstocks markets. Wind levels were expected to drop slightly today which offered support to the prompt.|
|Market Open||Market Open|
|The UK gas system is undersupplied this morning, although the results in the UK election has helped the Pound strengthen significantly, resulting in losses on the gas curve. Meanwhile, a rise in coal, oil and carbon has helped to cap losses at the back of the curve.||The UK election has led to a sharp rise in the Pound, while the likelihood of China and the US reaching a trade deal has increased. As a result, power prices are stable-to-bearish, with little support offered by feedstocks.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices have moved higher as the US has offered to cut tariffs on China by around 50% which could take effect next week.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased – closing at 39.40ppt and £45.90/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.