|Market Close||Market Close|
|Gas prices climbed higher towards the end of Friday’s session as traders cashed in on their short positions in anticipation of a rebound in oil prices. However, a drop in coal limited the gains on the gas curve. In terms of supply, the system was balanced throughout the session as exports and demand levels increased.||Power prices followed their gas counterparts and increased on Friday, with direction coming from the oil market and weak renewable generation. Wind levels were very low but solar power remained stable, meanwhile, a drop in coal prices helped to cap gains at the back of the curve.|
|Market Open||Market Open|
|The system has opened long this morning as temperatures are expected to remain above the seasonal norm this week, although weak renewables continue to lift CCGT demand. As a result, contracts across the near-curve are little changed from Friday’s open, with stable coal and oil markets failing to offer support further out.||Power prices show little movement this morning as gas, oil and coal markets have stabilised over the weekend. Overall fundamentals are unchanged with low levels of wind, healthy solar availability and strong cooling demand as a result of warm temperatures.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices are stable-to-bullish this morning and trade at $75/b following a slight rebound. Overall sentiment is mixed as the outlook for the global economy is unclear and output levels vary.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased – closing at 58.23ppt and £57.58/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.