|Market Close||Market Close|
|Gas prices displayed strong gains on Friday with the prompt climbing higher on the back of a sharp rise in demand levels. Norwegian flows improved slightly, providing some resistance to the front of the curve, while the far-curve found support from stronger coal and oil markets.||Power prices increased on Friday with direction coming from bullish coal, gas and oil markets, while carbon was practically unchanged. However, a healthier wind outlook for this week helped to cap gains on the prompt.|
|Market Open||Market Open|
|The UK gas system has opened balanced this morning, with a milder weather outlook and a stronger wind generation forecast helping the prompt record a loss. Supply levels are little changed from Friday, with healthy LNG send-outs and comfortable storage levels preventing the system from falling short.||Power contracts have inched down this morning, with a drop in coal and gas dictating movement across the curve. Milder weather is also expected this week which will reduce heating demand, with healthier wind levels also reducing the need for gas-fired power demand.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices trade just above $80/b this morning as current sentiment on oil markets is mixed. Uncertain financial markets, concerns regarding sanctions on Iran and issues in Saudi Arabia have all added to an unclear outlook for oil.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased – closing at 65.70ppt and £62.21/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.