|Market Close||Market Close|
|The UK gas system opened long on Thursday as Norwegian flows ramped up as the outage at Kollsnes was resolved; gas prices moved down across the near-curve as a result. Meanwhile exports via the interconnector were restricted at the start of the session due to planned maintenance, although LNG send-outs were slightly down.||Wind levels were set to rise today which helped to weigh on the prompt during yesterday’s session, with these levels set to remain unchanged over the weekend. Downward movement on the gas curve also transferred to power, with little support from coal and oil markets.|
|Market Open||Market Open|
|The majority of gas contracts have increased this morning as supply levels have tightened and oil prices have increased. A drop in CCGT demand has limited the gains but a short system has offered support to the near-curve. The prompt is the exception to the downward movement as wind levels are expected to remain healthy at the start of next week.||CCGT generation has decreased on the back of a rise in wind levels, although solar power has dropped slightly. This has helped towards some losses on the near-curve but the prompt has been pushed higher by a warmer weather forecast for the weekend which should lift demand.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices have corrected higher and now trade around $48.3/b with the rebound thought to be technical following Wednesday’s losses.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased – closing at 41.20ppt and £42.74/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.