|Market Close||Market Close|
|Gas prices decreased yesterday as milder weather is expected to return to the UK and flows from the North Sea picked up following the end of maintenance.||Power contracts were slightly bearish yesterday as weather fundamentals are expected to improve next week, taking some strain off the gas system. The losses were less prominent further along the curve as commodities rebounded.|
|Market Open||Market Open|
|A decrease on carbon markets and reduced demand has resulted in losses across the gas curve this morning. Warm weather is also expected at the end of the month and throughout June which should help storage sites recover.||Power prices have followed the carbon market, with EUA allowances falling by around €5 this week and the UK holding its first ETS auction today. A milder weather outlook and improved gas supply has also provided additional bearish pressure at the front of the curve.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent Crude displays a strong loss today, following carbon markets. In other news, it was announced that the US would not place sanctions on a company involved with the construction of the Nordstream 2 pipeline which is set for completion in 2022, creating bearish sentiment across all markets.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased strongly, closing at 57.38ppt and £69.40/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.