|Market Close||Market Close|
|Gas prices traded down on Monday as normal temperatures and a rise in wind generation reduced demand, with the upcoming Easter weekend also set to cause an extended drop in industrial demand. Oil and coal prices also decreased, providing additional bearish pressure further along the curve.||Power prices recorded losses yesterday, following the gas market, with a drop in coal also a factor. Any decrease on the prompt was restricted by an expected fall in wind levels today, but a milder weather outlook resulted in bearish sentiment on the near-curve.|
|Market Close||Market Open|
|The UK gas system has fallen short this morning as Norwegian flows are down and gas-fired power has increased to offset reduced wind availability. However, the short term outlook is healthy as overall flows are comfortable, combined with a forecast of warmer weather, as a result, prices are generally stable.||The gas curve offers little direction this morning but coal, carbon and oil markets have moved down, limiting upward movement for power contracts. Meanwhile, warm weather and comfortable renewable generation has helped to weigh on the prompt.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices show another small loss this morning as OPEC negotiations are dragging on and traders feel production cuts could be eased slightly following comments made by Russian and Saudi officials.
1-year forward prices
Market close data has revealed that the 1-year forward price for commercial gas decreased, while commercial electricity moved slightly higher – closing at 51.88ppt and £57.03/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.