|Market Close||Market Close|
|Strong LNG send-outs and reduced demand contributed to an oversupplied system throughout Wednesday’s session, resulting in losses across the near curve. Bearish movement could also be seen further out with minimal support provided by commodity markets.||An expected drop in renewable availability helped towards a small gain on the prompt yesterday, while the rest of the curve followed weaker coal, oil and gas, with the majority of contracts displaying a loss.|
|Market Open||Market Open|
|Gas contracts have opened at a premium this morning, with gains displayed across the curve. A rise in overall demand has tightened the system, with imports also reduced on the back of the outages. Meanwhile, carbon markets have hit fresh highs, rising by around 200% since this time last year.||Wind generation has decreased, with even lower levels forecast tomorrow which has helped the prompt record a strong gain, assisted by a slight dip in temperatures. The rest of the curve has followed gas and a rise on coal and carbon allowance markets.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent Crude trades around $68/b as oil markets remain rather stable at present, with no major news this week to push prices in either direction.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased, closing at 49.46ppt and £61.03/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.