|Market Close||Market Close|
|Gas prices rallied higher towards the end of Friday’s session and displayed strong gains by its close. European markets corrected upwards from record lows, with a competitive LNG markets also providing additional support.||Power prices increased during Friday’s session, pushed higher by stronger gas contracts. An expected drop in wind and solar levels this week, offered support to the prompt, while commodity markets offered little direction.|
|Market Open||Market Open|
|The UK gas system is marginally oversupplied this morning which has limited some gains at the front of the curve. However, overall sentiment is bullish as coal and carbon trade higher and weak renewable generation is expected to place greater reliance on gas-fired power this week.||Overall energy markets have opened higher this morning, with power prices following suit. Meanwhile, warm temperatures and low renewables have helped the Day-Ahead contract add to its price.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby price traded higher over the weekend as China has agreed to transport 20 million barrels of American oil in August and September and the global demand outlook is more optimistic.
1-year forward prices
Market close data has revealed that the 1-year forward price for commercial gas moved down, while commercial electricity increased, closing at 31.39ppt and £43.20/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.