|Market Close||Market Close|
|Gas prices initially opened lower yesterday on the back of a milder weather outlook for next week, the resumption of flows at Baumgarten and the return of the Troll processing facility in Norway. However, a fresh outage in Norway and the closure of the Forties pipeline provided support in the afternoon, helped by a rebound on coal and oil markets.||Stable wind generation and an expected drop in heating demand next week helped power contracts move down yesterday morning. Prices steadily increased as the session progressed with direction coming from gains on the gas curve, while coal and Brent also rallied higher.|
|Market Open||Market Open|
|The UK gas system has opened slightly long this morning and temperatures are forecast to rise above the seasonal norm next week, limiting gains on the gas curve this morning. UKCS output remains heavily constrained and bullish movement on oil and coal markets is expected throughout the session, offering support to contracts.||Power contracts continue to display upward movement this morning with support coming from gas, coal and oil. Temperatures across north-west Europe have also been revised down slightly which could lift demand levels.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent has increased since yesterday’s open with on-going bullish pressure provided by the outage at the Forties pipeline which has caused a lot of volatility on oil markets. Meanwhile, rising US production figures continue to undermine OPEC output cuts.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased – closing at 48.63ppt and £47.08/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.