21st April 2017 | Posted by: Natalie Ormrod | Market Analysis

Gas Power
Market Close Market Close
European Gas prices continued to soften yesterday as demand is expected to decrease by the end of the week due to milder weather and weaker oil prices. UK day-ahead prices traded lower as demand fell but remained high compared to seasonal norms. Spot prices have been supported as cold temperatures returned. The far curve saw prices correct downwards on the back of lower clean gas costs. Currency moves contributed to lower Euro coal costs.
Market Open Market Open
Gas prices seem to be lacking direction with minimal movement this morning. Temperatures are cold for this week, however forecasts have shifted and now point to warmer weather towards the end of April. A drop in Langeled flows could continue to support month-ahead prices. Power prices have followed the NBP extremely closely this morning. Wind generation levels have increased today, adding weight to the curve along with declining oil and coal prices.

Brent Summary

Brent 1st-nearby prices have fallen again amid uncertainty surrounding the extension of the OPEC deal to try to restore balance in the global market; Brent now trades at $52.91/b.

1-year forward prices

Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased further – closing at 43.02ppt and £42.45/MWh, respectively.

Today’s prices can also be found in an easy to read table on our ‘current UK energy price' page.

Click to enlarge graph

Energy Price Graph - 21-04-2017

For a breakdown of the current generation mix visit our Power Generation Insights page.

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.