|Market Close||Market Close|
|Near-curve gas prices moved higher yesterday due to an undersupplied system, as an unplanned outage limited flows to the UK. Meanwhile, any changes on the near-curve were minor as coal and oil markets weakened, offering resistance to the bulls.||Power prices followed the gas market on Monday with the larger gains witnessed at the front of the curve. Contracts further along the curve were more resilient as little support was provided by commodity markets.|
|Market Open||Market Open|
|The UK gas system is 30mcm short this morning due to an unplanned outage in Norway and on-going maintenance in Russia which has impacted supply levels. This helped prompt prices move higher, while the far-curve is stable due to weaker coal and oil.||Market sentiment is generally unchanged this morning with tighter gas supply helping near-curve prices move higher, while a drop in wind availability has also lifted gas-fired power demand. Further out, prices remain stable as coal, oil and carbon markets are almost flat.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices have turned bearish once again as the meeting between OPEC members was postponed and economic figures released in the US were weak; as a result Brent has dropped back below $61/b.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & electricity decreased – closing at 47.53ppt and £52.33/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.