|Market Close||Market Close|
|Gas prices were up & down during Wednesday’s session but ended the day at a discount with Brexit developments weighing on UK markets. Meanwhile, coal and oil markets offered little direction due to mixed changes.||Power prices increased yesterday with direction provided by a bullish carbon market, ignoring weaker feedstocks and coal. Wind levels were also expected to drop today which provided support to the prompt, with gas failing to offer any real direction to the near-curve.|
|Market Open||Market Open|
|The UK gas system has opened balanced this morning, while oil and carbon markets have posted losses, resulting in bearish movement along the gas curve. Weaker wind levels have resulted in a rise in gas-fired power, limiting excess supply despite healthy Norwegian flows.||The Pound has weakened which has resulted in a drop in pollution credit prices, in turn, this has led to an upward correction in power prices. Additional bearish pressure has been provided by minor losses on coal, gas and oil markets.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices climbed higher yesterday as OPEC nations have hinted that they may impose further production cuts in December, however, resistance was provided by an increase in US crude inventories.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 47.30ppt and £52.35/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.