|Gas contracts shed from their price yesterday with the prompt taking direction from lower demand and healthy supply. Meanwhile, prices further along the curve were pressured down by a falling oil market.
|Weaker gas and feedstocks contributed to losses on the power curve on Monday, with stable wind levels and healthy gas supply helping the prompt move lower. Further out, prices were stable-to-bearish, with falling oil a factor.
|The UK gas system remains oversupplied this morning despite a drop in flows from Norway. Despite the oversupply, prices have rebounded at the front of the curve due to the colder weather outlook, while a drop in coal and oil has weighed on the far-curve.
|Near-curve power prices have rebounded along with gas, although bearish coal and carbon has limited any gains. Some contracts further along the curve display minor losses, while a colder weather forecast has offered additional support to the front of the curve.
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices displayed another loss during yesterday’s session with some positive news coming out of Venezuela in terms of oil production; Brent currently trades around $58.9/b.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 46.10ppt and £50.85/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.