|Market Close||Market Close|
|Gas prices displayed early morning gains on Monday on the back of high demand and reduced supply which tightened the system. Meanwhile, coal, carbon and power markets rallied higher, providing additional strength to the far-curve. However, most prices displayed a downward correction later in the afternoon.||Power prices followed their gas counterparts yesterday, displaying an increase at the start of the session before a late drop-off, erasing any gains. However, weakness at the back of the curve was restricted by rising coal and carbon.|
|Market Open||Market Open|
|The UK gas system is slightly oversupplied this morning which has contributed to losses on the near-curve. Coal and oil markets have weakened, resulting in downward movement at the back of the curve. Meanwhile, healthy storage levels across Europe have improved supply security for winter, adding to the bearish sentiment.||Power prices display losses this morning, with weight provided by a drop in coal, gas and oil. The prompt displays a strong loss on the back of improved gas supply and an expected rise in renewable generation in the coming days.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices are weaker this morning as oil production has restarted in the Gulf of Mexico following the recent storm; Brent currently trades around $66.5/b.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 50.98ppt and £56.66/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.