|Market Close||Market Close|
|Gas prices displayed strong upward movement during Monday’s session with direction coming from rising coal and carbon markets. The prompt was the exception to the bullish trend as the system was oversupplied throughout the day thanks to an increase in Norwegian flows.||Power contracts at the front of the curve decreased yesterday with a stronger renewable generation forecast for today helping to weigh on prompt prices. Further out, contracts were pushed higher by rising coal, gas and carbon, with a drop in oil having little impact.|
|Market Open||Market Open|
|The system remains slightly long this morning as wind levels have improved, reducing gas-fired power demand. Movement along the near-curve is bearish as a result of this healthy supply picture, although prices at the back of the curve continue to follow coal and carbon markets.||Power prices have climbed higher this morning, supported by bullish coal and carbon as the overall energy complex remains unchanged. Wind levels look inconsistent for the coming week which will likely lead to some price swings at the front of the curve.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent displays a small loss this morning, continuing the bearish trend from the end of last week. Brent currently trades at $78/b and the currently outlook is unclear due to a number of contrasting fundamentals.
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 70.58ppt and £67.54/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.