|Market Close||Market Close|
|Flows at Baumgarten resumed within 24 hours following the explosion on Tuesday, while it was confirmed the Forties Pipeline would be offline for 2 weeks, resulting in downward movement on the gas curve. The system was 40mcm short but the Troll facility was expected to return today, with milder weather forecast for next week, limiting the effects of short supply.||Decreases on gas, coal and oil markets resulted in bearish movement across the power curve during Wednesday’s session. A milder weather outlook for next week and improved wind generation also helped to weigh on the prompt and the rest of the near-curve.|
|Market Open||Market Open|
|Troll has returned online today and flows via the Langeled pipeline have increased by 51mcm, resulting in losses across the near-curve. LNG send-outs are also strong with a delivery expected to arrive from Russia tomorrow. Meanwhile, on the far-curve, contracts have been pressured down by falling coal and oil markets.||The trend is little changed from yesterday’s session with weakening fuel markets the main market driver, following a more positive supply outlook for gas. An expected upturn in temperatures should weigh on demand levels from Sunday, while wind availability currently stands above 9GW.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent has dropped back to their 20-day moving average and currently trade just above $62.2/b, however, the markets remain bullish due to the shutdown of the Forties Pipeline and another rise in US crude stocks, as reported in the latest EIA report.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 47.55ppt and £46.35/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.