|Market Close||Market Close|
|Gas prices failed to display a clear trend yesterday with colder temperatures resulting in an increase in storage withdrawals to help meet heating demand, supporting some contracts on the near-curve. Further out, contracts weakened following downward movement on coal and oil markets.||Wind levels were expected to rise today which helped to weigh on Day-Ahead power throughout the session and also restricted upward movement on the rest of the near-curve. Expected outages at French nuclear units continued to offer some support but weakening coal contributed to small losses at the back of the curve, with a drop in oil also a factor.|
|Market Open||Market Open|
|The system has opened 15mcm long following a drop in exports, applying bearish pressure to the front of the curve. However, demand levels are slightly higher, limiting the losses, with a weaker wind generation forecast for next week also a factor. Meanwhile, oil prices have stabilised and the far-curve displays only minor changes this morning.||EUA contracts are volatile at present with fears that the UK could leave the EU emissions trading system, resulting in some gains on the curve this morning due to increases on European markets. Wind levels are set to remain comfortable tomorrow, weighing on the prompt, while fuel markets are stable and have had little effect on far-curve contracts.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices have decreased since yesterday’s open as the latest EIA report failed to offer any support; Brent currently trades below $57.5/b.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity display a small gain – closing at 46.82ppt and £46.12/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.