|Market Close||Market Close|
|Gas prices displayed little movement on Friday despite an expected rise in demand this week. Contracts were pressured down by a comfortable system, while coal and oil markets were also stable. Stronger wind levels reduced the need for CCGT generation, while UKCS production increased to make up for a drop in Norwegian flows.||Movement on the power curve was minimal at the end of last week as coal, gas and oil markets were little changed. Temperatures are expected to fall below the seasonal norm this week which offered support to the front of the curve but strong wind generation was expected over the weekend and today, weighing on the prompt.|
|Market Open||Market Open|
|The UK gas system remains long this morning as the predicted rise in demand was not as strong as last week’s forecasts suggested; resulting in losses on the near-curve. However, colder weather is expected over the coming days and wind levels should also drop, limiting the downward movement. In terms of supply, LNG send-outs remain high with a consistent flow of deliveries arriving in Europe.||Power contracts display mixed movement this morning with some downward pressure provided by decreases on the gas market. Meanwhile, an expected drop in wind generation has offered support to the prompt, while consumption levels are also expected to rise over the next few days.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices are stable this morning, displaying a drop of around $0.20/b from Friday’s open. The market is currently torn between rising oil rigs in the US and healthy OPEC compliance.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 43.48ppt and £43.64/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.