|Market Close||Market Close|
|Gas prices moved down yesterday as warmer weather is expected for the rest of the week and improved wind power led to a decrease in CCGT demand. The system was slightly long despite weaker LNG send-outs and a number of outages in Europe. Further out, prices displayed minor losses as fuel markets were largely stable.||Wind generation ramped up and healthy renewable power levels were expected to continue today, resulting in losses on the prompt and the rest of the near-curve on Tuesday. Meanwhile, the bullish trend recently seen on the coal market eased and Brent was stable throughout the session, contributing to some downward movement at the back of the curve.|
|Market Open||Market Open|
|The system has opened almost 10mcm long due to lower demand, as a result of warm weather across the UK; demand levels currently sit 45mcm below the seasonal norm. Healthy renewable power has reduced CCGT demand, while Langeled flows have increased 8mcm day-on-day. However, the outage at Kollsnes has been extended till the 27th of April, cutting available capacity by 18.5mcm and limiting any bearish movement at the front of the curve.||An expected drop in renewable generation tomorrow has supported the prompt this morning, although temperatures will remain above average, weighing on residential demand. Little direction was offered by the gas curve and the majority of near-curve contracts display a small loss. Further out, a drop in coal prices has resulted in losses, ignoring a rebound in oil.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent has increased this morning following a slight reduction in US oil inventories and eased political tensions; Brent currently trades at $72.1/b.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased slightly – closing at 48.48ppt and £48.90/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.