|Market Close||Market Close|
|Gas prices eased down on Friday with a drop in coal prices the main factor behind losses at the back of the curve. Reduced Chinese demand over the last few weeks has boosted coal stocks, resulting in a bearish market. Meanwhile, a rise in renewable levels resulted in slightly lower CCGT demand, weighing on the prompt.||Power prices displayed losses on Friday with direction provided by weaker coal and gas. A bullish carbon market helped to curb the downward movement somewhat, while low wind generation was expected over the weekend and the start of this week, helping the Day-Ahead contract climb higher.|
|Market Open||Market Open|
|The UK gas system has opened short this morning and renewable levels are expected to fall slightly tomorrow, offering support to the prompt. Above average temperatures are expected to continue for the next fortnight, restricting upward movement on the rest of the curve, while the back of the curve found little support from fuel markets.||Prompt gas contracts have added to their price this morning, while carbon, coal and oil markets have stabilised, resulting in some decreases at the back of the curve. Weak renewable power continues to lift CCGT demand, helping the prompt open at a premium, while supply levels are largely unchanged.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices are unchanged from Friday’s open and have only shown slight fluctuations in that time, with political issues surrounding the US providing mixed sentiment. The US/ China trade war has helped to provide bearish pressure, while tensions between the US and Iran have offered some support.
1-year forward prices
Market close data has revealed that the 1-year forward price for commercial gas decreased, while commercial electricity recorded a minor gain – closing at 57.70ppt and £57.20/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.