|Market Close||Market Close|
|Gas prices came off quite after opening bullishly on Friday, but ultimately traded down by the sessions close. A sell off on the prompt saw 10p/th of value stripped, with long positions and improved renewables possible catalysts.||The weakening gas markets on Friday softened the power, however the added beliefs of strong renewable send out over the weekend did not weigh significantly enough on the UK power prompt for the Day ahead for Monday or weekend base to lose value day on day, although liquidity was stifled and could be a contributing factor.|
|Market Open||Market Open|
|The majority of gas contracts fell this morning. Day-ahead gas dropped 12.50p/th to 54.50/th with temperatures forecast to be milder across the week, coupled with the oversupplied system.||The UK power system is pretty well supplied today, new British record levels of wind at 10.9GW of output hit on Saturday coming off. Cold weather should continue to support spot power prices today. On the curve, we favour a stable outlook as the bearish impact of coal prices could be offset by the consequences of the cold weather.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent leapt $0.92/bl, amid growing tensions between Saudi Arabia and Iran, leading to proposed talks of new sanctions for Iran.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased – closing at 48.70ppt and £48.75/MWh, respectively.
Today’s prices can also be found in an easy to read table on our ‘current UK energy price' page.
'Click to enlarge graph'
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.