|Market Close||Market Close|
|Any movement on the gas curve was minor yesterday as the effects of weaker coal were offset by a slight rebound on the oil market. The near-curve was also slightly supported by on-going maintenance at Russia’s Nordstream pipeline which has restricted flows around Europe.||Power prices were generally unchanged on Tuesday, although an expected drop in wind generation today helped the prompt climb higher. Solar power is stable, while hydro levels are low. Further out, prices were flat as oil and coal markets moved in opposite directions, all be it marginally.|
|Market Open||Market Open|
|Gas prices are slightly bullish this morning but the changes are barely noticeable. The system is balanced due to a rise in gas-fired power demand, while coal and oil markets are stable. Meanwhile, flows via Nordstream have fallen to zero, offering support to European markets.||Above average temperatures are expected for the rest of the month, lifting cooling demand, while wind levels are expected to remain well below the seasonal norm. This has helped towards gains across the near-curve, while contracts at the back of the curve have found little direction from fuel markets.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices decreased further and set a new 3-month low of $71.35/b. Prices have rebounded slightly this morning to trade at $71.6/b but the trend remains bearish because of the situation involving the US and China, in addition to weak API figures.
1-year forward prices
Market close data has revealed that the 1-year forward price for commercial gas moved down, while commercial electricity increased – closing at 56.94ppt and £56.50/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.