|Market Close||Market Close|
|Gas prices were looking firm at the start of yesterday’s session. However, any gains made were reversed by weakening coal and carbon markets as the day drew to a close.||Bearish trading in the coal and carbon markets saw most power contracts follow their gas counterparts and trade lower at the close yesterday. Day-ahead prices being an exception, which closed the day on a slight gain of £0.85/MWh.|
|Market Open||Market Open|
|Further weakness in EUA prices could continue to weigh on European gas prices today. Fundamentals remain bearish as the UK system is still oversupplied and gas demand is expected to drop next week. Only a planned outage at the St Fergus NSMP terminal could tighten the supply picture slightly.||This morning, most contracts have opened slightly down. A bearish view is held for shorter dated contracts mirroring the general view for the wider energy complex. Further out, contracts are expected to firm.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent remained bullish on Thursday with market participants focusing firmly on the ongoing Middle East tensions. Brent opened today at $72.72/bbl, but has now reversed that small loss and jumped to trade at $73.16/bbl.
1-year forward prices
Market close data has revealed that the 1-year forward price for commercial gas decreased – closing at 50.12ppt, whilst commercial electricity increased, closing at £54.53/MWh.
Today’s prices can also be found in an easy to read table on our ‘current UK energy price' page.
click to enlarge graph.
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.