|Gas prices continued along a similar trend yesterday with the near-curve displaying losses and contracts further out climbing higher. Healthy LNG send-outs and a warmer weather outlook weighed on the front of the curve, while bullish oil offered support to longer-dated contracts.
|Power prices moved down on Monday with direction coming from weaker gas and coal markets, offsetting small increases for carbon and oil. The expected rise in temperatures also helped to weigh on the prompt, while renewables should remain stable, all be it low, over the coming days.
|Gas prices are slightly lower this morning as flows from Norway have increased, resulting in an oversupplied system. Coal and carbon markets have also moved down, reducing the impact of bullish oil. Meanwhile, frequent LNG send-outs pose some challenges to storage sites across Europe.
|Power prices are stable this morning with the prompt opening unchanged as wind levels are expected to remain low over the next couple of weeks, limiting the bearish effect of warmer weather. Further out, coal and carbon are slightly weaker but the outlook for Brent is bullish.
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices have eased down slightly following bullish movement last week, caused by tensions between the US & Iran and concerns regarding Chinese financial markets. Any price decreases are thought to be technical as sentiment remains positive due to a possible extension to the current OPEC 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 49.43ppt and £53.28/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.