|Market Close||Market Close|
|Gas prices increased yesterday afternoon, erasing early morning losses with direction coming from bullish coal, oil and carbon markets. However, upward movement at the front of the curve was capped by a milder weather outlook and comfortable supply.||Power prices displayed mixed movement on Wednesday as a rise in fuel markets provided support in the afternoon. In the morning, near-curve prices were dictated by milder temperatures and healthy renewable generation.|
|Market Open||Market Open|
|The UK gas system is oversupplied this morning as flows are healthy, with a further 4 LNG deliveries expected before next week. However, cooler weather is expected over the next few days which should lift demand levels. Near-curve gas prices have eased down slightly, while those further out continue to find support from rising Brent.||Power prices have climbed higher this morning with direction coming from a stronger oil market. Healthy gas supply and weaker demand has offered some resistance at the front of the curve but bullish fuel is the main market driver today.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices recorded a strong gain yesterday and continue to move higher this morning. A bullish EIA report, combined with tensions in Venezuela and positive economic data from China have provided support.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial increased – closing at 52.83ppt and £55.45MWh, 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.