|Market Close||Market Close|
|Gas prices displayed mixed movement yesterday with coal and oil markets moving in opposite directions in the afternoon. Following a bullish opening, a warmer weather outlook and an oversupplied system helped towards losses in the afternoon, with a rise in Norwegian flows also a factor.||Power contracts mirrored their gas counterparts yesterday, opening at a strong premium before moving down as the session progressed. Wind levels were forecast to improve slightly today, while gas supply was also expected to increase, helping to weigh on the near-curve.|
|Market Open||Market Open|
|The prompt has opened lower this morning on the back of weaker coal and carbon markets, while oil is unchanged from yesterday’s session despite volatility in the afternoon. Next week’s temperatures are expected to be above the seasonal norm which will weigh on demand levels, contributing to losses on the rest of the near-curve.||Wind generation has improved today but is expected to be inconsistent over the coming week, with a decrease forecast for tomorrow, resulting in a stronger prompt this morning. A warm weather outlook has pressured down the rest of the near-curve, while weaker fuel markets have contributed to downward movement further out.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices climbed above $79.4/b yesterday but have since reverted back to yesterday’s price of around $78.3/b. Support was provided by production cuts and geopolitical tensions but the latest API forecast shows an expected rise in crude stocks, resulting in losses this morning.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 55.23ppt and £54.29/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.