|Market Close||Market Close|
|The majority of gas prices displayed a loss on Friday, ending a largely bearish week. A weaker wind generation outlook helped the prompt move higher but the rest of the curve was pressured down by a drop in coal and power contracts.||Power prices followed weaker gas and coal markets at the end of last week. The prompt was the exception to the bearish trend as wind levels were expected to weaken further at the start of this week. An upward revision in temperatures towards the end of the 15-day forecast also helped to weigh on the near-curve.|
|Market Open||Market Open|
|The UK gas system is balanced this morning and milder temperatures are expected towards the end of the month, contributing to further losses on the gas curve this morning. Flows from Norway have improved, helping the system to cope with a strong rise in demand, while storage levels also remain high.||Power contracts have opened at a discount once again with a mild weather outlook and improved gas supply offsetting higher demand. The prompt displays a strong gain on the back of weaker wind levels, while carbon prices trade flat.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices moved towards $66/b over the weekend but have quickly fallen back below $65/b this morning. Bullish pressure was provided by the military shutdown of an oil pipeline in Libya, as well as a block on crude exports but seemingly the impact has not been significant for prices.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity moved down – closing at 32.94ppt and £41.70/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.