|Market Close||Market Close|
|Gas prices fell to their lowest point in 2017 so far yesterday morning on the back of the mild weather forecast. However, prices recovered in the afternoon as a long system resulted in an increase in storage injections and a drop in withdrawals. Meanwhile, the Euro strengthened against the Pound, providing further bullish sentiment.||The power curve tracked the movement of gas yesterday, displaying strong bearish movement in the morning before recovering in the afternoon. A healthy wind generation forecast for today helped to weigh on the prompt, while mild weather pressured down the rest of the near-curve.|
|Market Open||Market Open|
|The outlook is slightly bullish this morning as the UK gas system is short due to a drop in Norwegian and Russian exports to the rest of Europe. The prompt has also been supported by an expected increase in demand tomorrow as temperatures are forecast to fall temporarily. Despite this drop tomorrow, temperatures are expected to remain above the seasonal norm over the next fortnight and supply levels are comfortable; limiting upward movement on the curve.||Power contracts have added to their price this morning with direction coming from the gas curve. Day-Ahead power rose on the back of an expected decrease in wind levels tomorrow, while temperatures will also be slightly colder. Further out, prices have found support from a rebound in coal contracts, although the oil market is stable.|
Brent 1st-nearby prices remain stable after hitting a three-week high on Monday. Bearish movement was avoided by a slight decline in US stocks, while traders also remain optimistic 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 electricity increased – closing at 47.07ppt and £45.94/MWh, respectively.
Today’s prices can also be found in an easy to read table on or ‘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.