|Market Close||Market Close|
|Gas prices moved down yesterday morning but a rebound on oil & coal markets, in addition to two unplanned outages helped contracts to recover in the afternoon. The system opened long despite planned maintenance and a worker’s strike limiting flows into the UK; this helped to weigh on the near-curve at the start of the session.||Power prices moved higher on Monday with a rebound in gas, coal and carbon providing support in the afternoon. Wind levels were also forecast to remain low today, resulting in a higher reliance on gas-fired power which helped the prompt add to its price.|
|Market Open||Market Open|
|Gas prices remain bullish this morning as the system has fallen short due to a drop in UK production levels. Gains can be observed across the near-curve on the back of this tighter supply picture, while rising coal and carbon have provided support to the far-curve.||Power prices continue to rise this morning with direction coming from bullish coal and gas, as energy markets across Europe reach new highs. The larger gains can be seen at the front of the curve, in particular, front-month and front-quarter but a healthier wind outlook has helped the prompt move down.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices display another gain this morning with US sanctions on Iran coming to the fore, outweighing bearish economic factors; Brent currently trades around $72.2/b.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased – closing at 63.23ppt and £61.35/MWh, respectively.
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.