|Market Close||Market Close|
|Gas prices eased down on Friday, pressured down by weaker coal, while carbon and oil markets were almost flat. A drop in demand also helped towards a long gas system which helped to weigh on the prompt. Temperatures for the remainder of the month were also revised higher.||Near-curve power prices moved slightly higher on Friday due to the expectation of colder weather and weak renewable generation. Further out, contracts moved down, following lower gas and coal prices, while oil and carbon were unchanged.|
|Market Open||Market Open|
|The UK gas system is over 30mcm long due to a rise in Norwegian & UKCS flows, in addition to steady LNG send-outs. Storage levels are almost unchanged in the last two months, with further LNG deliveries expected in the next few weeks. A rebound on the oil market is the only supportive factor today and significant losses can be seen across the curve.||Power prices display strong losses this morning as above average temperatures are now expected over the next fortnight. Coal, gas and carbon prices are also bearish and renewable production has increased today.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices display a minor gain since Friday’s open but remain below $67/b. Bullish pressure is currently being provided by potential production cuts by OPEC nations, with a meeting scheduled for the 6th of December.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 60.95ppt and £59.03/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.