23rd June 2017 | Posted by: Catherine Grand | Market Analysis

Gas Power
Market Close Market Close
European gas prices weakened on Thursday as Brent prices plunged below £45/bbl overnight on Wednesday and news that Centrica applied to British regulator for permission to release almost 1Bcm of remaining stocks and cushion gas from the Rough storage site mostly in Q4-17. Spot power prices were down on expectations of lower demand and return of stronger wind production. Nuclear availability also improved marginally while hydro power generation is still falling quite rapidly.
Market Open Market Open
UK Gas prices have marginally increased this morning, on the back of cooler weather and a short UK System due to unplanned outages taking place for Kollsnes and SEGAL. The outages are expected to last 5-6 days. Oil prices have edged up this morning, recovering from some of the sharp falls we have experienced this week. Similarly, UK Power prices are on the rise this morning, reacting to cooler weather forecasts for the coming week. This has added support to the Power curve.

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

Brent Summary

The oil market stopped the haemorrhage yesterday, as prices were slightly up yesterday. Prices will nevertheless likely post their fifth weekly fall in a row.

1-year forward prices

Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased – closing at 41.62ppt and £42.76/MWh, respectively.

Today’s prices can also be found in an easy to read table on our ‘current UK energy price' page.

'Click to enlarge graph'

Energy Price Graph - 23-06-2017

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.