|Market Close||Market Close|
|Gas prices inched lower during yesterday’s session, following the trend set by European energy markets. Brent was the only market to strengthen, with sentiment provided by positive OPEC comments and seemingly relaxed tariffs on China.||Power prices followed their gas counterparts and moved down yesterday, with direction provided by weaker coal and carbon. Renewable power was also forecast to pick up today, with strong wind levels helping to weigh on prompt.|
|Market Open||Market Open|
|The UK gas system is oversupplied which has resulted in higher exports. Demand is also down due to improved renewable generation and mild temperatures. Losses further along the curve have been slightly capped by a rise in coal and oil prices.||The power curve displays only minor movement this morning with a slight drop in carbon offset by a rebound in Brent. Renewable levels have improved as expected but wind generation is expected to fall sharply tomorrow, resulting in a large gain on the prompt.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices rebounded unexpectedly yesterday and now trade close to $79/b. Sentiment at the start of yesterday’s session was largely bearish as Donald Trump announced new tariffs to be imposed on China. However, it was later revealed that the tariffs would come into action gradually and are open to negotiation, providing some market optimism.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 69.68ppt and £66.28/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.