|Market Close||Market Close|
|Gas prices weakened on Thursday with the larger losses displayed at the front of the curve, while movement on the far-curve was minimal. Fuel markets remained bearish, with oil, power and carbon posting another loss, while coal stabilised.||Power contracts decreased yesterday with the exception of the prompt which was pushed higher by a higher demand and weak renewables forecast for today. The rest of the curve was pressured down by a mixture of weaker gas, coal and oil.|
|Market Open||Market Open|
|The system is balanced this morning despite reduced Norwegian supply as LNG send-outs are comfortable. The majority of prices display a rebound on the back of the drop in supply, while the far-curve finds support from a rise in commodities.||The prompt has moved down this morning as renewable generation is set to rise next week, with warm weather also weighing on gas demand. However, the overall energy complex has turned slightly bullish due to geopolitical issues, supporting the rest of the curve.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices displayed a short-lived rebound before suffering further losses yesterday. Brent fell to a one-month low of $61.29/b but have since bounced back to just below $62/b. On-going tensions involving oil tankers in waters around Iran dictate the market at present.
1-year forward prices
Market close data has revealed that the 1-year forward price for commercial gas increased, while commercial electricity recorded a loss – closing at 50.30ppt and £54.79/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.