|Market Close||Market Close|
|Gas prices were stable at the start of Monday’s session but eased down in the afternoon with direction coming from falling coal and oil markets. Bearish movement was evident across all European markets with the short-term supply/ demand outlook unchanged from the end of last week.||Losses on carbon, coal, gas and oil markets transferred to the power curve yesterday, although weak renewable generation provided some bullish resistance at the front of the curve. Warm weather has resulted in low hydro availability across Europe, while wind levels remained very weak.|
|Market Open||Market Open|
|The UK gas system has opened slightly long this morning despite on-going maintenance which has restricted flows across Europe. A rise in renewables has resulted in a drop in CCGT demand, contributing to the oversupply and weighing on near-curve gas prices. Further out, prices continue to move down with direction once again coming from weaker coal and oil.||Power contracts are generally stable this morning, although an expected drop in wind levels tomorrow has helped the prompt open at a premium. The rest of the curve continues to follow weaker fuel markets, with Brent and APi2 coal posting strong losses.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices displays a loss of over $3/b and have hit a new 3-month low with strong bearish sentiment provided by the on-going trade war between the US and china which threatens to impact the global economy.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity displays a loss – closing at 57.12ppt and £56.25/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.