|Market Close||Market Close|
|Flows via the UK Interconnector and Langeled pipelines were expected to increase further today, helping to weigh on some near curve contracts yesterday afternoon. LNG send-outs also remain extremely comfortable due to a high number of deliveries this month.||The prompt eased down yesterday, helped by expectations of surplus gas supply, while the rest of the near curve found support from a downward revision in temperatures towards the end of the month.|
|Market Open||Market Open|
|Gas prices have eased down this morning as the UK gas system has opened 24mcm long, with strong imports and LNG send-outs creating a healthy supply picture. However, demand forecasts for the remainder of the month remain high due to weak wind power and cooler temperatures.||Limited wind levels and cooler weather continue to limit losses on the power curve, although the majority of contracts have followed gas and trade lower this morning. Prices further out are generally stable with commodity markets sending mixed signals.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent Crude has climbed above $67/b due to a weaker US Dollar, with traders now awaiting Thursday’s US inventory report for further direction.
1-year forward prices
Market close data has revealed that the 1-year forward price for commercial gas & commercial electricity recorded a loss, closing at 51.14ppt and £60.90/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.