|Market Close||Market Close|
|Gas prices displayed a rebound during Wednesday’s session as the UK gas system fell short due to a drop in Norwegian supply. However, prices further along the curve were more resilient thanks to weaker coal and oil contracts.||Power prices increased yesterday, with direction coming from the gas market. The prompt was the exception to the bullish trend as renewables were expected to improve today, while a drop in coal and oil offered resistance on the far-curve.|
|Market Open||Market Open|
|The UK gas system is oversupplied this morning as exports via the IUK pipeline have halted, creating excess supply despite weaker Norwegian flows. This has helped toward losses on the near-curve, while fuel markets are also trading down, limiting upward movement further out.||European energy markets are weaker across the board this morning and power is no exception. Temperatures are expected to remain around current levels for the coming days, with improved wind generation expected towards the end of next week.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices display another small loss following the recent US Inventory report which shows a strong increase in output. Traders are also keeping tabs on the US/ China trade war with no conclusion in sight.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 50.25ppt and £54.38/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.