|Market Close||Market Close|
|Following a bullish start to the session, gas prices fell by the end of the day with the help of a stronger Pound and weakening commodity markets. Some resistance was provided at the front of the curve by Norwegian maintenance which will reduce supply.||Power prices eased down on Thursday with bearish pressure provided by a drop in gas & carbon, combined with a stronger Pound. However, the prompt found some support from an expected drop in wind generation today.|
|Market Open||Market Open|
|The UK gas system has opened 20mcm long despite a drop in Norwegian flows as LNG send-outs have increased and storage injections have ceased. The majority of prices display gains this morning, with coal and carbon also opening at a discount.||Power contracts display further losses this morning with weaker gas and carbon continuing to dictate the curve. Warm weather is expected over the weekend but wind levels are low, limiting downward movement on the prompt.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices remain around $60/b although uncertainty surrounding the US Dollar providing some strength, although there is some optimism in regards to US/ Chinese trade talks.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 45.44ppt and £50.48/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.