|Market Close||Market Close|
|Gas prices were pushed higher by strengthening coal, carbon and oil markets and erased any losses displayed at the start of the session. CCGT demand was also forecast to rise today due to weaker renewable power, with a long system having little impact on prices.||Power prices decreased on Wednesday morning but rebounded later in the session. Healthy renewable generation and an oversupplied gas system did little to restrict upward movement in the afternoon, with the curve dictated by a strong rise in coal and carbon.|
|Market Open||Market Open|
|Sentiment on gas curve remains bullish as carbon has increased by almost a Euro and coal continues to rise. The overall energy complex across Europe remains supportive, while an expected drop in temperatures in the coming weeks has provided an additional bullish factor.||European energy markets continue to rise this morning with gains displayed across the power curve. A significant drop in wind levels has also increased gas-fired power demand, offering further support to the front of the curve.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices have moved higher this morning with support provided by a drop in US crude stocks and some market optimism in regards to the US/ China trade war. However, on-going bearish pressure is provided by supply concerns surrounding Iran when US sanctions take full effect.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased strongly – closing at 72.83ppt and £68.55/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.