|Market Close||Market Close|
|Gas contracts displayed strong losses during Tuesday’s session with the more significant decreases recorded at the front of the curve. Coal and carbon markets also moved down, adding to the downward pressure.||Near-curve power prices climbed higher yesterday as wind levels were expected to ease down over the coming days and temperatures were little changed. Contracts towards the back of the curve moved down in contrast, following weaker gas, coal and feedstocks.|
|Market Open||Market Open|
|The UK gas system is close to balance this morning as flows are comfortable and demand is slightly lower. Oil and coal markets are trading down but gas prices are largely stable. Some resistance was provided by an expected drop in wind levels which will lift demand for gas-fired power.||Wind levels are expected to fall tomorrow, helping the prompt to open at a strong premium. Today’s milder temperatures are also expected to be short-lived, falling towards the seasonal norm by the weekend. Meanwhile, feedstocks remain bearish but a rise in carbon has provided support to power prices.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices displayed a slight rebound yesterday afternoon but overall sentiment remains bearish due to a rise in US stockpiles; Brent currently trades close to $63.5/b.
1-year forward prices
Market close data has revealed that the 1-year forward price for commercial gas recorded a loss, while commercial electricity moved slightly higher – closing at 35.21ppt and £43.20/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.