|Market Close||Market Close|
|Gas prices moved down Friday afternoon on the back of a sharp drop in Brent as China could impose duties on American oil. EUA prices also fell to their lowest levels since May following this news. Weaker fuel markets offset the effects of a limited supply, with low demand levels also contributing to the bearish sentiment.||Wind generation decreased from the strong levels we saw on Thursday but still remained healthy, reducing the need for gas-fired power generation. Losses could be observed across the power curve, with direction coming from falling coal, carbon, gas and oil markets.|
|Market Open||Market Open|
|Day-Ahead gas displays a further loss this morning as the system has opened long, with demand levels sitting 35mcm below the seasonal norm. Outages in Norway continue to limit supply into the UK but this has failed to influence prices at the front of the curve. Further out, contracts continue to take direction from bearish fuel markets.||A weak outlook for renewable generation has helped the prompt record a strong gain this morning, with warm temperatures also expected to lift cooling demand. However, the rest of the curve displays losses as a result of falling gas and fuels markets.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices have dropped to $73/b since Friday afternoon following the announcement in China which threatened to place a tariff on American exports, which includes crude oil.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 55.19ppt and £53.98/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.