|Market Close||Market Close|
|A stronger US Dollar, following the decision at the latest Federal Interest Rate meeting offered some support to the gas curve yesterday but the overall trend was bearish throughout the session. The main market driver was mild weather which has resulted in weak demand levels, keeping storage withdrawals to a minimum.||Power contracts added to their price yesterday morning with direction coming from a stronger coal market, however, these gains were gradually erased as the session progressed. A weaker French market and below average demand helped to apply downward pressure to the curve.|
|Market Open||Market Open|
|The majority of gas contracts display a loss this morning as the UK gas system is oversupplied and oil prices display another decrease. Temperatures are expected to remain above the seasonal average over the weekend but a low wind forecast for next week could result in increased CCGT generation, raising demand levels.||Power contracts have been driven higher by an increase in coal prices this morning although a mild weather outlook has helped to limit upward movement at the front of the curve. Elsewhere, the French market has stabilised as the nuclear supply picture is much healthier following the return of units which were shut down due to safety concerns.|
Brent 1st-nearby prices have recorded a small loss this morning but the outlook could turn bullish once again as oil producers looks to implement a cap on output; Brent currently trades just below $54.3/b.
1-year forward prices
Market close data has revealed that the 1-year forward price for commercial gas decreased, while commercial electricity recorded a small gain - closing at 44.30ppt and £44.70/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.