|Market Close||Market Close|
|Gas prices moved higher yesterday afternoon, following an increase in coal and ignoring a slight drop in oil and carbon. The short-term weather outlook is rather mild for this time of year which should limit residential demand, while supply levels are very healthy, capping gains at the front of the curve.||Power prices were pushed higher by their gas counterparts which displayed gains in the afternoon. Meanwhile, wind levels were forecast to be unchanged today, with temperatures set to be around the seasonal average, helping the prompt to record a loss.|
|Market Open||Market Open|
|The UK gas system is oversupplied this morning as flows exceed demand, this has helped towards losses on the near gas curve, with a busy LNG schedule also a factor. Carbon & power markets are also down but coal has moved in the opposite direction, while oil is stable.||Power prices are down this morning, with weaker gas and carbon helping towards the bearish sentiment. However, wind levels are set to drop over the weekend and the start of next week which has helped the prompt to open at a strong premium.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices display a small loss as US inventories display a rise. Overall fundamentals are bearish due to the economic slowdown, no progress in regards to Chinese/ US trade deals and strong oil supply.
1-year forward prices
Market close data has revealed that the 1-year forward price for commercial gas increased, while commercial electricity posted a loss – closing at 43.64ppt and £48.18/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.