23rd March 2017 | Posted by: Daniel Birkett | Market Analysis

Gas Power
Market Close Market Close
Gas prices displayed losses yesterday following an improvement in Norwegian flows, as the outage at Kollsnes was resolved. Milder temperatures are also expected in the coming days with further bearish pressure provided by losses on the coal and oil markets. Demand levels are expected to drop next week which helped power contracts shed from their price yesterday. The far-curve was also pressured down by weaker coal and oil, although a slight drop in wind levels restricted downward movement on the prompt.
Market Open Market Open
Temperatures have been revised higher once again this morning, helping to restrict upward movement on the prompt. However, a drop in Langeled flows has tightened the UK gas system, resulting in gains across the near-curve. Losses further out have been limited by technical support but weak coal continues to weigh on contracts. Power contracts display small increases this morning, following a similar trend to gas. A warmer weather outlook has capped the gains on the near-curve, while oil prices have failed to offer much support further out.

For a breakdown of the current generation mix visit our Power Generation Insights page.

Brent Summary

Brent 1st-nearby prices display a small increase this morning despite another drop yesterday, following the release of the latest US stocks report. The rebound is thought to be a technical one, with no obvious fundamentals providing support at present.

1-year forward prices

Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased – closing at 42.84ppt and £42.96/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

energy price graph - 23-03-2017

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.