|Market Close||Market Close|
|Gas prices traded down on Tuesday thanks to an oversupplied system, as Norwegian flows ramped up. Far-curve prices ignored a rise in coal and oil as a healthy outlook in terms of fundamentals dictated the gas market.||Near-curve power prices moved down yesterday with direction provided by weaker gas and a warm weather outlook. Renewable availability was expected to increase slightly today, weighing on the prompt, while bearish movement further out was limited by a rise in commodity markets.|
|Market Open||Market Open|
|The UK gas system is balanced this morning due to a 24mcm drop in flows from Norway. Exports via the IUK pipeline are unchanged despite this drop in supply, as storage levels are above the 5-year average. As a result, prices display further losses with the help of weaker Brent and coal contracts.||The front of the power curve continues to move down this morning thanks to the expectation of above-average temperatures and improved wind levels next week. However, the far-curve is slightly bullish due to a rise in carbon, with little direction provided by coal and oil.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices are struggling for direction at present despite extremely bullish sentiment. Contracts managed to post a loss yesterday with Saudi Arabia attempting to create some stability on markets.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 50.05ppt and £53.64/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.