|Market Close||Market Close|
|Gas prices displayed losses towards the end of Wednesday’s session, following a relatively stable opening. A drop in oil provided bearish pressure across the curve, while the system moved closer to balance due to weaker demand and improved Norwegian flows.||Power prices were pressured down by weaker gas and a stronger Pound yesterday, with a drop in coal also a factor. Lower demand and an expected rise in wind generation also helped to weigh on the near-curve.|
|Market Open||Market Open|
|The UK gas system has fallen short again and storage withdrawals will be required to help balance it. However, demand levels are expected to drop towards the end of the week as improved wind production will reduce reliance on gas-fired power. Oil markets remain bearish, while carbon and coal have increased, resulting in stable gas prices.||Commodity markets have offered mixed direction to the power curve this morning and the majority of prices are stable. Strong wind levels are expected over the weekend which has limited upward movement at the front of the curve.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices have fallen to their lowest levels since December, trading around $61.7/b. Markets are focusing on the potential crisis in China, with the city of Wuhan on lockdown in an attempt to stop the spread of the coronavirus. Further lockdowns could hinder the transportation of oil within the country.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity moved down – closing at 31.53ppt and £40.48/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.