|Market Close||Market Close|
|Gas prices moved down by Friday’s close, ending a week that showed no clear trend. Early morning support was provided by a rise in oil, power and carbon prices, while short term fundamentals pointed towards a weaker demand outlook for this week, weighing on the near-curve.||Power prices decreased on Friday following a bullish opening, although losses were limited by a rise in coal and carbon. Wind levels were expected to increase significantly today, while temperatures over the coming week should be around the seasonal average.|
|Market Open||Market Open|
|The UK gas system is oversupplied this morning as a rise in wind generation has seen a sizeable drop in gas-fired power demand, while LNG, Norwegian and Dutch flows are strong. As a result, gas prices display further losses, with coal and oil markets also moving lower.||Power contracts have followed gas, coal & carbon markets and moved down this morning. A windier and milder weather outlook has also helped to pressure down the prompt, with the losses filtering through to the rest of the near-curve.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices have eased down slightly following some strong upward movement last week, with a drop in global oil production providing on-going support to the market.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 53.18ppt and £56.80/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.