|Market Close||Market Close|
|Gas prices increased on Friday, tracking the movement of coal, oil, power and carbon markets. However, overall fundamentals were bearish with healthy supply, comfortable storage levels and a mild weather outlook limiting gains at the front of the curve.||Power prices closed at a premium on Friday with support provided by bullish fuel markets. Prices were stable for the majority of last week with the expectation of milder weather and comfortable generation levels limiting any gains.|
|Market Open||Market Open|
|The UK gas system has opened slightly short this morning but a flurry of LNG deliveries should result in healthy supply over the coming week. This expected rise in supply and a milder weather outlook has contributed to losses this morning, although rising oil has offered resistance on the far-curve.||Power contracts continue to take direction from rising biomass feedstock prices and bullish oil markets. The UK is set for above average temperatures in the coming weeks, while renewable levels should also improve which could weigh on prices later in the session.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent continues to move higher, hitting fresh 2019 highs, with prices trading around $66.3/b. Fundamentals remain supportive with US sanctions and OPEC production cuts the main factor behind the upward trend.
1-year forward prices
Market close data has revealed that the 1-year forward price for commercial gas decreased slightly, while commercial moved higher – closing at 52.35ppt and £54.88MWh, 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.