|Market Close||Market Close|
|Gas prices displayed no clear trend yesterday with the prompt and winter contracts showing small gains and far-curve prices moving down slightly. Longer dated contracts ignored rising coal and oil markets, while the near-curve was supported by a higher demand forecast.||Power prices moved higher yesterday due to a rise in carbon and a cold weather outlook which will increase heating demand in the UK. A rebound on coal and oil markets offered additional support to the back of the curve but the prompt closed at a premium due to a weak wind generation forecast for today.|
|Market Open||Market Open|
|An increase in Norwegian flows and healthy LNG send-outs helped to weigh on near-curve contracts this morning, while storage levels are at their highest levels for five years. A sharp drop in wind generation and colder weather has limited any losses on the prompt, while the far-curve has eased down with fuel markets.||Prompt power prices have been pressured down by their gas counterparts this morning, with weaker coal, carbon and oil weighing on the far-curve. Temperatures have also been revised slightly higher over the next fortnight which should help concerns regarding the short term supply/ demand outlook.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices displayed an increase yesterday and trade close to $63.5/b, however, the upward correction is thought to be a technical one as overall sentiment remains bearish due optimism in regards to OPEC production cuts.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial decreased – closing at 59.25ppt and £59.10/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.