|Market Close||Market Close|
|Gas prices moved down yesterday as temperatures for next week were revised higher, easing fears of a potential supply shortage. Several LNG deliveries are also scheduled to arrive in the UK over the next few days, further weighing on the near-curve. Further out, prices displayed some losses in the afternoon as coal and oil markets weakened.||A healthier wind outlook for today helped the prompt shed from its price on Thursday, with prospects of milder weather next week weighing on the rest of the near-curve. Oil prices opened higher but decreased throughout the session, while coal contracts also dropped in price, applying some bearish pressure to the back of the curve.|
|Market Open||Market Open|
|The front of the gas curve continues to weaken this morning with next week’s milder than expected weather outlook providing bearish pressure. Healthy LNG send-outs and improved pipeline flows have also contributed to the losses. Contracts further along the curve display varied changes as coal and oil markets have moved in opposite directions.||Mixed movement can be observed across the power curve this morning with weaker renewables forecast for the weekend and the start of next week, helping the prompt move higher. An improved weather forecast for the end of next week has resulted in some losses on the near-curve, while the back of the curve has found direction from an increase in oil prices.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices have hit $70/b as positive news from Saudi Arabia continues to fuel the bulls, however, a possible trade war between the US and China could have major ramifications on the global economy; Donald Trump has signed a memorandum which could impose a tariff on up to $60bn of imports from China.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 49.05ppt and £48.81/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.