|Market Close||Market Close|
|Gas prices moved down yesterday with a slight drop in demand and the scheduled arrival of 3 LNG deliveries in the UK helping to weigh on the near-curve. Further out, contracts were pressured down by further losses on coal and oil markets.||A stable generation/ demand outlook for today weighed on the near-curve during yesterday’s session, with direction also coming from a drop in prompt gas prices. Concerns regarding French nuclear shutdowns continued to limit downward movement, as did volatile EUA contracts but another drop in coal helped prices on the far-curve decrease.|
|Market Open||Market Open|
|The UK gas system has opened short this morning as Langeled and UKCS flows are unchanged from yesterday, helping to limit losses at the front of the curve. Colder temperatures have also supported the prompt, while movement at the back of the curve is minimal as weaker fuel prices have offset any bullish factors.||Temperatures are set to turn colder over the weekend and wind generation will fall, helping the prompt record a significant gain this morning. However, the forecast for next week is milder and windier, resulting in losses on the rest of the near-curve. The far-curve continues to take direction from weaker coal and oil markets and contracts opened at a discount.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent prices display more losses this morning as traders have cashed in on their profits following strong gains at the start of the week, caused by tensions in Iraq. Meanwhile, there are positive signals in regards to rebalancing the market, with OPEC looking likely to extend production cuts beyond the current deal.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 46.70ppt and £46.01/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.