|Market Close||Market Close|
|Winter and prompt gas prices increased during yesterday’s session due to an expected drop in temperatures and a tighter gas system. Meanwhile, prices further along the curve were generally bearish with direction coming from a strong loss for Brent, while coal and carbon also moved down.||Power prices strengthened on Tuesday with support provided by rising gas prices and a higher demand outlook as we approach winter. Falling coal, carbon and oil provided little resistance but gains at the front of the curve were more significant than those further out.|
|Market Open||Market Open|
|The oil market continues to weaken this morning, with coal and carbon also showing losses, however, this has failed to have much impact on gas prices. The cold weather outlook continues to dictate the front of the curve, although the system has opened long due to a decrease in demand.||Falling oil has weighed on the contracts at the back of the curve this morning, with coal, carbon and long-dated gas contracts also shedding from their price. Meanwhile, the colder weather forecast continues to lift the prompt and winter contracts.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices recorded significant losses yesterday, losing almost 5% of their value to trade around $65.5/b this morning. A rise in US output continues to undermine efforts made by Saudi Arabia and OPEC in regards to supporting the market and resulted in strong bearish pressure during the session.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 61.73ppt and £60.60/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.