|Market Close||Market Close|
|Gas prices eased down during Monday’s session, following the broader energy complex; oil and coal markets both weakened, dictated by global demand. A short system failed to have much impact on the near-curve, with temperatures expected to turn milder later in the week, reducing heating demand.||Power prices displayed losses yesterday with bearish pressure provided by a drop in feedstocks, coal, carbon and oil. Weaker wind generation offered some resistance but temperatures are expected to rise above the seasonal norm as we head towards the weekend, preventing any upward movement on prices.|
|Market Open||Market Open|
|The UK gas system is still undersupplied this morning as cold temperatures have increased demand. Flows are also slightly down and higher LNG send-outs or storage withdrawals will be required. However, this has failed to support prices as the short term supply/ demand outlook is healthy.||Fundamentals are unchanged this morning as fuel markets continue to weaken and weather forecasts remain the same for the 15-day outlook. This has resulted in further losses along the curve, while wind levels are expected to improve in the coming days, helping to weigh on the prompt.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices are little changed and remain range bound between $62-$63/b; any bullish pressure has been offset by the increase in US stocks.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity recorded a loss – closing at 43.10ppt and £47.68/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.