|Market Close||Market Close|
|Gas prices were relatively stable on Wednesday as the majority of fundamentals were largely unchanged. Coal prices increased in the morning but fell later in the session and gas-fired power demand was down due to healthier renewable generation.||Stronger coal pushed far-curve power contracts higher yesterday, with bullish oil prices also a factor. At the front of the curve, prices were dictated by healthy wind generation, helping most contracts to close at a discount.|
|Market Open||Market Open|
|Upward movement can be seen on the gas curve this morning as the unplanned outage at Kollsnes continues to limit flows into the UK; the system is short as a result. A drop in renewable power has also helped the prompt rally higher as CCGT generation has increased, tightening supply levels further.||Power contracts display minor gains and have followed movement on the gas curve this morning. Wind levels have dropped but should increase tomorrow, resulting in a small loss for the Day-Ahead contract. However, solar power is set to remain quite low over the next few days, while rising oil prices have contributed to gains on the far-curve.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices have increased yesterday and now trade above $49.7/b with direction coming from a bullish stocks report which offset the effects of rising production levels in the US.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased – closing at 42.23ppt and £43.12/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.