|Market Close||Market Close|
|Gas prices inched higher on Friday following a rebound on fuel markets, with coal, carbon and oil all showing an increase. The system was close to balance throughout the session but demand levels are expected to fall this week due to improved renewables and warm weather.||The majority of power prices moved higher on Friday with direction coming from bullish gas, coal, carbon and oil. The prompt eased down as windier and sunnier weather was forecast for this week which will reduce reliance on gas-fired power.|
|Market Open||Market Open|
|The UK gas system is oversupplied this morning following a strong drop in demand, while flows are generally unchanged. However, prices have failed to erase Friday’s gains as oil and coal markets have increased further.||Oil and carbon markets continue to provide support to some power contracts this morning, with seasonal contracts the only ones to hold their price. Meanwhile, the prompt has strengthened as warm temperatures will see a sharp rise in cooling demand.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices display gains this morning and currently trade close to $62.5/b with bullish pressure provided by tensions in Iran, following the seizure of a British oil tanker. These tensions in one of the world’s busiest shipping routes has resulted in market uncertainty.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased – closing at 50.89ppt and £55.55/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.