|Market Close||Market Close|
|Gas prices increased on Monday as the system was undersupplied throughout the session and further support was provided by a rise in Brent. Demand levels were 14mcm above average for this time of year and the system started the session 9mcm short. On the far-curve, prices were dictated by rising oil on the back of a lower rig count in the US.||Power prices followed gas and moved higher yesterday, although strong solar production helped to cap the gains. Warm temperatures resulted in increased cooling demand which provided additional support to the near-curve. Meanwhile, stronger oil helped contracts on the far-curve to strengthen.|
|Market Open||Market Open|
|Near-curve gas prices are little changed this morning despite unplanned outages at Kollsnes & Åsgard causing a drop in Norwegian flows, which has contributed to a short system. Demand levels are still slightly above the seasonal norm which has also helped towards the undersupply, restricting any downward movement. Further out, oil prices are stable-to-bearish but this did little to limit the gains.||Power prices display mixed movement this morning but the changes are minimal. Wind generation has slightly improved and solar power remains healthy, helping the prompt to move down. Wind should hold its current levels until the weekend but solar will drop as temperatures turn cooler over the next few days, supporting the rest of the near-curve.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices have stabilised this morning following yesterday’s upward movement which was caused by weaker US output figures and a rise in Chinese demand; Brent currently trades just below $48.9/b.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased – closing at 42.03ppt and £43.09/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.