|Gas contracts displayed only minor losses by the end of Wednesday’s session, with the larger decreases recorded towards the back of the curve. Carbon continued to fall, as did coal, while the oil market remained extremely weak.
|Near-curve power prices climbed higher yesterday with a further drop in wind generation forecast for today, combined with cooler weather. However, movement further along the curve was very bearish, following falling carbon contracts.
|The UK gas system is undersupplied this morning as additional gas-fired power generation is required to make up for a drop in wind levels. The European Central Bank has also provided support across all markets with a new £750Bn bond buying scheme.
|Upward movement can be seen across the curve this morning, following changes on the gas market. Carbon prices have rebounded, cancelling out around a third of their losses from previous sessions, with the coal market also showing gains.
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices displayed strong losses yesterday but have recovered back above $28/b this morning following measures taken by the EBC to help stabilised stock markets.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased – closing at 28.92ppt and £36.03/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.