|Market Close||Market Close|
|Gas prices initially opened higher yesterday as outages in the North Sea continued to impact the UK system. However, prices moved down as the session progressed following decreases on coal and oil markets. Norwegian flows also improved slightly and an outage at a Dutch storage site restricted exports to Europe, helping to weigh on contracts.||Power contracts mimicked their gas counterparts on Monday by displaying upward movement in the morning, then recording losses in the afternoon due to weaker coal and oil. However, losses on the prompt were limited as renewable generation was set to remain low today.|
|Market Open||Market Open|
|Gas prices continue to fall this morning as the UK gas system has moved closer to balance following an increase flows via Langeled and South Hook. In other news, temperatures are expected to remain quite cool and no LNG deliveries are expected over the next fortnight, while oil prices are generally stable.||Power contracts show mixed movement this morning with the prompt displaying a significant loss as wind generation is forecast to improve tomorrow. Tighter gas supply has helped to support contracts further along the curve as winter peak load prices have increased.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices decreased yesterday afternoon and trade at $52/b this morning. The market has corrected down following strong gains on Friday as traders await the release of the latest API figures and tomorrow’s EIA report.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 44.42ppt and £45.58/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.