|Market Close||Market Close|
|Despite a late rally towards the end of the session, gas prices ended the day at a discount on Friday. The front of the curve found direction from a milder weather outlook this week which will weigh on demand, with a slight rise in renewables expected today. Further out, prices stabilised as bullish oil offered resistance, with coal and carbon also displaying minor gains.||Movement along the power curve was subdued on Friday, with the prompt displaying the biggest change as warmer and windier weather was forecast for today. Gas provided some bearish pressure at the start of the session but the far-curve was almost unchanged due to rising oil, coal and carbon markets.|
|Market Open||Market Open|
|The UK gas system is slightly undersupplied this morning as an unplanned outage in Norway has led to a further reduction in flows. Maintenance is also expected to begin on the Kollsnes processing plant today which will last until the end of the month. This has resulted in gains at the front of the gas curve, while movement further out is minimal due to stable fuel markets.||Wind levels increased as expected today but availability is expected to drop below the seasonal norm for the rest of the month, resulting in a sharp rise on the prompt this morning. A warmer weather outlook for the next fortnight has limited upward movement on the rest of the near-curve, while coal and oil markets are stable and offer no direction.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices have settled down this morning but the market remains volatile following attacks on oil tankers in the Gulf of Oman, with a meeting between OPEC members also scheduled for today.
1-year forward prices
Market close data has revealed that the 1-year forward price for commercial gas decreased, while commercial electricity moved higher – closing at 47.99ppt and £52.40/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.