|Market Close||Market Close|
|The end of maintenance at North Sea facilities offered bearish sentiment to the near gas curve during Monday’ session, with an upward revision in temperatures for the rest of the month and the start of June also a factor.||Power prices only displayed minor changes yesterday, with an improved outlook in terms of gas supply and demand levels helping to restrict gains at the front of the curve. The prompt climbed higher as wind generation was expected to remain low today.|
|Market Open||Market Open|
|Gas contracts have decreased this morning, with the more significant losses displayed at the front of the curve. Demand has decreased but still remains 17mcm above the seasonal norm, however, improved Langeled flows have balanced the system. Warmer temperatures have also been forecast for next week.||Improved fundamentals have weighed on the power curve this morning, with warmer weather and healthier gas supply pressuring down contracts at the front of the curve. Meanwhile, carbon and oil markets continue to strengthen, limiting downward movement at the back of the curve.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent Crude has climbed above $70/b due to optimism regarding global air travel and its impact on oil demand. However, the spread of the Indian COVID-19 variant continues to cause concern.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased, closing at 60.89ppt and £72.40/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.