|Market Close||Market Close|
|Gas prices continued to move down on Friday, adding to the bearish trend displayed throughout the week. Coal, power, carbon and oil markets all displayed losses, while the system was oversupplied throughout the session.||Power prices followed the gas market and moved down on Friday with additional bearish pressure provided by a drop in biomass feedstock prices and weaker coal & carbon. Mild temperatures were also forecast for this week, further weighing on the near-curve.|
|Market Open||Market Open|
|The UK gas system has opened 20mcm short this morning, the biggest shortfall so far this year as demand levels have increased significantly due to a drop in renewable power. However, any upward movement has been limited by a mild weather outlook and a drop in power and carbon prices.||Most power prices trade lower this morning thanks to weakening coal and carbon, although the gas market is stable. Oil has inched higher due to OPEC production cuts, while renewable levels are expected to remain low over the coming days, resulting in a higher Day-Ahead price.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices have increased slightly as the Saudi Energy Minister reiterated OPEC’s intention to support the market, offsetting the effects of a slowdown in production in the US.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 44.45ppt and £50.50/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.