|Gas prices inched higher yesterday, with gains on the near-curve caused by an undersupplied system and a colder weather outlook. Increases further along the curve were less prominent as commodity markets offered mixed direction.
|The majority of power prices closed at a discount on Monday, following European markets. Healthy wind levels helped to weigh on the prompt, while changes at the back of the curve were slightly mixed due to increases on coal and gas markets.
|The UK gas system remains short this morning but temperature forecasts have been revised slightly higher, helping prices along the near-curve record a loss. Commodity markets have also turned slightly bearish, weighing on longer dated contracts.
|Power prices display losses this morning, with downward pressure provided by a drop in carbon and a milder weather outlook. Coal and gas markets are also bearish, while healthy wind levels have pressured down the prompt.
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices continue to trade down due to the easing of tensions in the Middle East and a rise in US inventories, bringing prices closer to their natural levels.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity moved down – closing at 36.18ppt and £43.10/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.