|Market Close||Market Close|
|Difficulty unloading cargo in stormy weather at UK import terminals meant a further downward adjustment in LNG send outs, keeping spot prices in strong territory. Some contracts were overbought and gas fundamentals were largely bearish across Europe, meaning curve prices corrected downwards.||On the spot power prices rose strongly yesterday on the back of fading temperatures and wind generation. Near curve power had small gains with the rise of EUA prices, whereas further out on the curve, prices were mostly steady.|
|Market Open||Market Open|
|The UK gas system remains short this morning due to weak LNG send outs, which will continue to support prompt contracts. Weather forecasts remain fairly mild, which should keep short-term deliveries to a minimum. Both oil and EUA prices are trading higher today which could see bullish activity towards the curve.||Early trading sees spot and curve power prices strengthening with support from higher gas, coal and oil prices. Strong wind and revised weather forecasts should continue to weigh bearish pressure on the prompt contracts.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
For the seventh day in a row, Brent 1st-nearby prices display a gain this morning, opening at $57.75/bbl.
1-year forward prices
Market close data has revealed that the 1-year forward price for commercial gas decreased – closing at 31.12ppt. Whilst commercial electricity remained at £40.58/MWh.
Today’s prices can also be found in an easy to read table on our ‘current UK energy price' page.
click 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.