|Market Close||Market Close|
|Gas prices climbed higher during yesterday’s session as oil prices displayed a rebound and coal recorded a strong gain. The supply picture was also weaker as maintenance at the Nordstream pipeline restricted flows around Europe. Meanwhile, the Pound weakened against the Euro which provided additional support to the NBP gas market.||Power contracts added to their price on Wednesday, finding direction from rising gas and corresponding fuel markets. Wind levels also remained very low and hydro availability was weak. In addition, warm temperatures continued to lift cooling demand helping contracts on the near-curve to strengthen.|
|Market Open||Market Open|
|The system has opened long this morning as Russian flows increased, helping to balance systems across Europe; demand levels are also slightly reduced. However, overall sentiment on the gas curve remains bullish with support provided by coal and oil markets.||Power prices continue to move higher this morning with bullish gas, coal, carbon and oil markets dictating movement along the curve. Wind levels are unchanged from yesterday and above average temperatures are forecast for next week.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices have increased from yesterday’s open as sentiment on the oil market is mixed as data regarding US stockpiles is conflicted; Brent currently trades at $72.9/b.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased – closing at 58.05ppt and £57.13/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.