|Market Close||Market Close|
|A drop in LNG send-outs and weaker UKCS production tightened the gas system yesterday and offered support to near-curve gas contracts. A rise in Norwegian exports to the continent limited some of the gains, while weakening Brent helped to weigh on contracts further along the curve.||The Day-ahead contract recorded a strong loss yesterday ahead of the expected drop in industrial demand and an improved wind generation forecast. Movement on the rest of the curve was mixed with some contracts being pushed higher by their stronger gas counterparts.|
|Market Open||Market Open|
|The UK gas system is close to balance this morning following strong levels of oversupply in recent sessions. This has helped prompt gas contracts add to their price with UKCS production further reduced due to two weeks of planned maintenance. LNG send-outs are also 30mcm lower today and residential demand is above the seasonal norm, while weaker oil has done little to restrict bullish movement further along the curve.||Power contracts have climbed slightly higher this morning although the gains are less prominent than those displayed earlier in the week. Outages at nuclear power plants and limited wind power has resulted in a higher reliance in coal-fired generation which is the main factor behind the increases on the near-curve.|
Brent 1st-nearby prices have recorded a loss of close to $2/b overnight, erasing some of yesterday's gains. Yesterday's upward movement was a result of 6000 barrels of oil leaking from a pipeline in Alabama but a high rig count in the US continues to provide bearish pressure.
1-year forward prices
Market close data has revealed that the 1-year forward price for commercial gas increased, while commercial electricity recorded a small loss - closing at 37.74ppt and £43.08/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.