|Market Close||Market Close|
|Gas prices climbed higher on Tuesday with bullish sentiment provided by a rise in oil and coal. A colder weather outlook also helped to support contracts at the front of the curve, while the system moved closer to balance.||Power prices displayed mixed movement yesterday with support provided by a rise in biomass feedstocks, gas and commodity markets. However, a mild weather outlook for today and a stable wind forecast for the rest of the week helped to weigh on the near-curve.|
|Market Open||Market Open|
|The system has opened long this morning as temperatures in the UK are normal to slightly above average for this time of year. The Pound has strengthened against the Euro, limiting some gains further along the curve, although oil has increased further.||Prompt power prices have decreased this morning as temperatures remain mild, although the losses are minimal as cold weather is forecast to hit towards the end of the month. Coal has eased down, offsetting the effects of bullish Brent, while carbon is stable.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent has climbed back above $60.6/b this morning due to tighter supply levels as a result of OPEC cuts, however, the upward movement has been capped by concerns regarding an economic slowdown.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased – closing at 57.93ppt and £59.10/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.