|Market Close||Market Close|
|Gas prices moved down on Friday afternoon as the demand forecast was low and oil and coal markets moved down. Warm temperatures were expected to weigh on residential demand over the weekend and the start of this week. In terms of supply, Norwegian flows were reduced by unplanned outages but exports from the UK to Belgium decreased.||Power contracts shed from their price on Friday with bearish pressure provided by falling coal, gas and oil markets. The 7-day weather forecast for the UK pointed towards above average temperatures which could lead to a rise in cooling demand, while weaker renewables restricted downward movement on the prompt.|
|Market Open||Market Open|
|Warm weather is set to continue until next week at least, potentially reaching 30°c in some parts of the UK which will keep LDZ demand low; this has helped contracts across the near-curve to record a loss. Further out, contracts continue to take direction from fuel markets and have moved down, with coal and oil both weakening from Friday.||Healthy solar power is helping to make up for weak wind levels but this has failed to prevent the prompt from recording a small loss. The rest of the near-curve has followed gas and moved down, as gas demand is below the seasonal average. Prices at the back of the curve also display further losses as a result of bearish coal and oil.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices have stabilised around $79/b as the economic situation between the US and China has eased following talks in Beijing where a satisfactory deal was agreed.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 56.77ppt and £55.75/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.