|Market Close||Market Close|
|Gas prices moved down at the end of last week following bearish movement on power, coal and carbon markets. The Pound also strengthened against the Euro, further weighing on the curve. Prices on the near-curve were more resilient as colder weather today and tomorrow will lift demand, while supply is slightly restricted.||Power prices moved down on Friday as wind generation was set to remain healthy over the weekend and solar power was also set for a slight increase. Contracts were also pressured down by losses on coal and carbon markets, with a strengthening Pound also a factor.|
|Market Open||Market Open|
|Residential demand is expected to drop later in the week as temperatures should rise to around the seasonal norm. However, current demand remains high and the UK gas system has opened 29mcm short, with weaker Langeled flows also a factor; this has helped to limit the gains on the near-curve. Bearish movement further along the curve was also restricted by a stronger oil market.||Wind generation is forecast to remain weak over the next few days, supporting the prompt, although solar power could ramp up when milder temperatures return to the UK next week. Further out, a stronger Pound has offset the effects of bullish Brent and helped toward losses.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices climbed higher on Friday and trade above $55.7/b this morning with on-going support provided by a higher demand outlook. The US oil industry is getting back on track following the recent hurricane, while a meeting between and the OPEC/Non-OPEC technical committee is set to take place on Friday.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 45.30ppt and £46.24/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.