|Market Close||Market Close|
|Movement along the gas curve varied yesterday with a lower demand outlook for the rest of the week applying bearish pressure on the prompt. Norwegian imports were reduced due to a shutdown of the Langeled pipeline but the facility has returned online today. However, an outage at Kollsnes has been extended till Friday, offering support to the rest of the near-curve.||Wind levels were expected to rise today, helping to pressure down the Day-Ahead contact, with a milder weather outlook weighing on the rest of the near-curve. Coal and oil markets displayed minor losses and failed to have much impact on the far-curve.|
|Market Open||Market Open|
|Improved wind levels have reduced CCGT power today, helping the system open balanced, with a rise in Langeled flows being offset by an increase in exports via the IUK pipeline. Meanwhile, oil prices are expected to turn bullish as we head towards Friday, providing some upward pressure on the far-curve.||Wind generation is forecast to remain stable over the next few days before dropping next week. The solar outlook is weak for the next few days and an improvement on Friday will be short-lived according to forecasts. Like gas, movement on the curve is mixed, with an expected rise in oil prices a factor.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent continues to trade below $55.5/b this morning and recorded a minor loss during yesterday’s session. Brent has stabilised as oil production in the US is back to normal; the next market driver will be Friday’s OPEC meeting in Vienna.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased slightly – closing at 45.40ppt and £46.21/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.