|Market Close||Market Close|
|Gas prices followed a drop on carbon and oil markets during Wednesday’s session, with additional weakening caused by a healthier supply/ demand picture for the remainder of May and the start of June.||Power markets mirrored movement on the gas curve, with most contracts displaying a strong loss. An expected rise in wind generation helped the prompt shed from its price, with warmer weather also forecast for next week.|
|Market Open||Market Open|
|Markets remains very bearish at present, with financial and commodity markets all displaying a sharp decline since last week. Easing carbon markets are a large factor behind the losses on the European energy complex, with a weaker demand outlook also weighing on gas prices.||Power prices have decreased this morning, following overall weakening across energy markets. Wind generation has improved, with similar levels forecast for tomorrow, weighing on the prompt, while a milder weather outlook contributed to losses on the rest of the near curve.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent Crude displays another strong loss, falling back below $66/b with the removal of US sanctions on Russia paving the way for the completion of the Nordstream 2 pipeline. Some experts believe this move is an attempt to repair relationships between the two superpowers.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased, closing at 55.60ppt and £68.88/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.