|Market Close||Market Close|
|An announcement by Centrica confirmed that the Rough storage facility would be unavailable until May 2018 at the earliest, applying bullish pressure to the gas curve at the end of last week. Supply levels were generally healthy but a cooler weather forecast for the weekend and the start of this week restricted any downward movement.||Power prices rose at the end of last week with direction coming from increases on the gas curve, following the news regarding Rough. However, upward movement on the far-curve was slightly restricted by weaker Brent and coal.|
|Market Open||Market Open|
|Temperatures across Europe are expected to remain cold for the rest of April, helping towards gains at the front of the gas curve this morning. The prompt has climbed higher as UK gas demand is expected to be 32mcm higher tomorrow. In terms of supply, the outlook is unchanged as LNG send-outs and Norwegian imports remain comfortable.||Near-curve power contracts have added to their price this morning due to a combination of cooler temperatures and a drop in wind generation. Meanwhile, coal and oil markets are generally stable and failed to offer any support in either direction, resulting in minimal movement on the far-curve.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices have recorded a small loss over the Easter weekend and currently trade below $55.4/b. On-going oversupply concerns have come back to the forefront following the release of the latest EIA report.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased – closing at 43.83ppt and £42.98/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.