|Market Close||Market Close|
|Gas prices decreased yesterday as demand levels remained quite weak and flows from Norway and Russia improved. However, demand levels are set to rise over the next few days due to a drop in temperatures and lower wind levels; limiting the downward movement. Elsewhere, a drop in coal prices applied additional bearish pressure further along the curve.||Movement on the power curve was mixed yesterday with an expected drop in temperatures and a reduction in wind output providing upward pressure on the near-curve. Further out, weaker coal prices helped to weigh on contracts, while Brent was stable.|
|Market Open||Market Open|
|An unplanned outage at the Kollsnes processing plant has resulted in an 18mcm drop in Norwegian flows this morning, with the outage expected to last between 12-24 hours. The UK gas system is short on the back of this drop in supply as demand levels have grown, contributing to gains on the near-curve. However, mild temperatures are expected to return at the start of April, capping upward movement for the front-month contract.||Power contracts have added to their price this morning, following movement on the gas market. Oil prices have also helped towards the bullish trend on the far-curve, while weaker renewable generation has supported contracts at 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, gaining over $0.50/b since yesterday, although the bullish sentiment is thought to be technical rather than as a result of market positivity.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity posted a small increase– closing at 43.52ppt and £43.66/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.