|Gas prices were generally stable during Thursday’s session with an undersupplied system offset by a healthy LNG outlook and comfortable storage levels. Contracts largely ignored increases on coal, oil and carbon markets and movement on the far-curve was minimal.
|Like gas, power prices were mostly flat yesterday, with the exception of the front of the curve which found direction from an improved wind generation outlook and a warmer weather forecast for the weekend. Meanwhile, little support was offered to the far-curve by fuel markets.
|The UK gas system has moved long this morning as demand is slightly down and flows are close to yesterday’s levels. The overall energy complex is stable this morning, with oil markets little changed as supply concerns were eased by comments made by the IEA.
|A rise in biomass feedstocks has offered some support to power contracts this morning, with coal and carbon also displaying a small increase. Sentiment is bullish but any gains are minor, however, a healthier renewables forecast has contributed to a strong loss on the prompt.
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices have stabilised and trade around $64.4/b this morning. The bullish trend has halted as supply fears were quashed by comments made by the IEA and the Saudi Energy Minister.
1-year forward prices
Market close data has revealed that the 1-year forward price for commercial gas decreased, while commercial electricity moved higher – closing at 47.58ppt and £53.51/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.