|Market Close||Market Close|
|Gas prices displayed minimal movement during Wednesday’s session and either ended the day unchanged or with a very small loss. Oil and carbon markets displayed mixed changes throughout the day and offered no direction to prices.||Power prices were largely stable yesterday, with the exception of the prompt which was pushed higher by a weaker wind generation outlook for the rest of the week. Meanwhile, commodity markets moved in opposite directions and failed to impact the power curve.|
|Market Open||Market Open|
|Gas production in the UKCS is down and demand is up due to increased gas-fired power, leaving the system 20mcm short. However, temperatures have been revised slightly higher for the 15-day outlook, offering some bearish pressure to the near-curve. Oil and carbon prices have both rebounded and movement along the gas curve remains stable.||A milder weather outlook has failed to restrict upward movement on the near power curve this morning as wind levels are expected to decrease further tomorrow. Further out, prices have found support from an increase in carbon & oil, while coal & gas trade sideways.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices are range-bound this week, stuck between $64-$65/b. Trading attention is currently focused on trade talks between the US and china, following the phase one deal sign-off, although some resistance was provided by the latest OPEC report which was slightly bearish.
1-year forward prices
Market close data has revealed that the 1-year forward price for commercial gas displayed a small gain, while commercial electricity moved down – closing at 35.23ppt and £42.88/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.