|Market Close||Market Close|
|Gas prices increased on Monday, reaching new highs on the back of a bullish coal market and reduced supply levels. Planned maintenance has led to supply constraints in Europe and a number of LNG deliveries are expected to make up the shortfall. Stronger oil prices also remained a supportive factor at the back of the curve.||Power contracts added to their price yesterday following bullish movement across coal, carbon, gas and oil markets. The gains seen on power and gas markets, outweighed those displayed by other commodity markets with low liquidity a factor, as traders were stuck in short positions.|
|Market Open||Market Open|
|The system has opened long this morning due to a slight drop in CCGT demand, although prices at the front of the curve continue to take direction from a weaker supply outlook. Gains can also be seen at the back of the curve as coal and oil markets display further upward movement.||Mild weather and improved wind generation have weighed on demand levels this morning but this has failed to limit gains across the near-curve. Instead, contracts continue to follow rising fuel markets, with gas, coal and oil prices all moving higher.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices were rather volatile yesterday, falling to around $71/b before rebounding to $72.3/b; Brent has posted further gains this morning to trade around $72.6/b. Contrasting oil output from OPEC and Saudi Arabia contributed to the volatility, with Iranian price cuts expected to result in a more competitive market.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased – closing at 62.09ppt and £60.83/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.