|Market Close||Market Close|
|Gas prices displayed strong fluctuations yesterday, with losses in the morning and recoveries in the afternoon. Putin’s comments in regards to a gas transit deal with Ukraine contributed to bearish sentiment at the start of the session, but uncertainty resulted in some buying action on energy markets later in the day.||Power prices followed gas and displayed mixed movement throughout Thursday’s session. Contracts displayed losses in the morning but traded higher in the afternoon on the back of increased buying interest. However, an expected drop in wind generation today helped the prompt move higher.|
|Market Open||Market Open|
|Russian and Ukraine have agreed a gas transit deal ‘in principle’ which will see imports into Europe continue; this has helped the January contract record a strong loss. Far-curve prices have also eased down but an undersupplied system has limited downward movement at the front of the curve.||The gas transit deal between Russia and Ukraine weighed on the gas market this morning, with the losses transferring to the power curve. Coal and carbon markets also weakened, applying additional bearish pressure to the curve, helped by a milder weather outlook.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices display another increase as US stockpiles recorded a larger than expected decline. Trade confidence has also been boosted by further talks between China and the US.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 39.80ppt and £47.64/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
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