|Market Close||Market Close|
|Gas prices decreased on Thursday ahead of the Easter weekend, with a warm weather outlook and improved supply helping towards losses on the near-curve. Commodity markets also weakened which weighed on contracts further out.||Power prices followed their gas counterparts and moved down on Thursday, with healthy supply and a weaker demand outlook the main market driver. Coal and carbon markets also eased down which led to bearish movement further along the curve.|
|Market Open||Market Open|
|The UK gas system is 35mcm long this morning as maintenance at the Interconnector has prevented exports. Demand levels are also down due to warm temperatures, resulting in further losses on the near-curve. Further out, a rise in oil prices has offered some resistance but contracts have been pressured down by a drop in carbon and coal.||Power contracts display further losses this morning as wind and solar levels have improved, while higher temperatures have reduced demand. Bullish oil limits downward movement further along the curve but coal and carbon have weakened further.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices have increased sharply as the US put to a stop to waivers that had been granted to some Iranian oil exporters. Focus now moves towards OPEC to see if they will attempt to offset the drop in Iranian supply.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 51.53ppt and £55.68/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.