|Most gas prices recorded minor losses yesterday, with the exception of the prompt which was pushed higher by a weak renewable power outlook and annual maintenance at the Nordstream pipeline which brings Russian gas into mainland Europe.
|Cooler weather and weak renewables lifted the prompt on Tuesday, while the rest of the curve traded down. Coal, oil and carbon markets all moved higher but power was largely dictated by weaker feedstocks.
|The supply/ demand outlook is practically unchanged from yesterday and the system remains balanced. This tighter supply outlook has offered some support to the front of the curve, while longer dated contracts have been pushed higher by a rise in oil, carbon & coal.
|Commodities have increased this morning due to a more optimistic outlook for oil. This has helped to lift power prices at the start of the session, with a heavy reliance on gas continuing to support the prompt.
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices have moved down as OPEC+ talks are expected to result in extended production cuts, while US stocks are forecast to have decreased by 8 million barrels.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased, closing at 33.52ppt and £45.73/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.