|Market Close||Market Close|
|Gas prices were bullish on Friday with an expected rise in gas demand supporting contracts at the front of the curve and stronger coal helping towards increases further out. APi2 coal climbed higher on the back of a supply shortage in South Africa and import restrictions in China.||Power contracts moved higher on Friday with support provided by rising coal and gas markets. A drop in renewable power levels was forecast for today which offered further strength to the prompt, while a slightly cooler outlook for this week helped towards gains on the rest of the near-curve.|
|Market Open||Market Open|
|The UK gas system has opened 5.8mcm long this morning with demand levels rising by 20mcm compared to Friday. This increase in demand has helped near-curve prices climb higher, with support also provided by an expected cooler spell towards the end of the week. In terms of supply, Langeled flows are up by 5mcm but LNG send-outs show no improvement despite a delivery at South Hook over the weekend.||The prompt has decreased this morning due to an expected rise in wind generation tomorrow, while the rest of the near-curve has followed the gas market and moved higher. Temperatures are expected to remain above average until Wednesday, with a brief cool period forecast for the weekend. Meanwhile, a slight drop in oil prices has done little to curb upward movement at the back of the curve.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices display a small loss this morning as tensions surrounding Iran have eased and US production remains strong; Brent currently trades just above $77.1/b.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased – closing at 55.13ppt and £54.41/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.