|Gas prices initially opened higher yesterday but moved down as the session progressed and ended the day practically unchanged. Oil and carbon markets offered support, while a drop in LNG send-outs resulted in a short system.
|UK power prices displayed gains on Wednesday, with a rise in carbon helping towards the bullish movement. A colder weather outlook for next week also provided support, in addition to limited gas supply.
|The UK gas system remains slightly short this morning, while temperatures have been revised down for the start of next week, helping the prompt and near-curve prices open at a premium. LNG send-outs remain down as bad weather restricts their delivery, while commodity markets provided little direction.
|Commodity markets are little changed this morning but the majority of prices have found support from an expected drop in temperatures next week. However, a healthy wind outlook has helped the prompt shed from its price.
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices have found support from a recovery in Chinese production and transit following shutdowns to prevent the spread of the Coronavirus. Brent currently trades around $58.7/b.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased – closing at 31.42ppt and £40.65/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.