|Gas contracts climbed higher during Friday’s session, following rising coal and carbon markets, while oil stabilised. A weaker supply/ demand outlook for the start of this week offered additional support to the near-curve.
|Most power contracts added to their price on Friday with support provided by stronger coal, gas and carbon. A warm weather forecast for the weekend and a healthier wind generation outlook for this week helped the prompt move down.
|The UK gas system is undersupplied this morning as demand levels are stronger and UKCS production is slightly down. However, Norwegian flows are stable and the LNG outlook is healthy, limiting any upward movement. Further bearish pressure has been provided by above average temperatures and an improved wind forecast.
|Power prices display losses this morning, following their gas counterparts, with weaker coal another factor, while oil and carbon markets are generally stable. Meanwhile, wind levels are expected to pick up later in the week, helping the prompt to decrease.
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices display another loss as markets begin to shake off the effects of the drone attacks in Saudi Arabia last weekend. The IEA confirmed that global supply levels are healthy last week, contributing to the downward correction.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 47.33ppt and £53.23/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.