|Market Close||Market Close|
|Prompt gas prices moved down on Friday with high wind levels helping to reduce CCGT demand, while the LNG outlook was also comfortable with 3 deliveries expected to dock in the UK in the coming weeks. Further out, contracts were pressured down by another drop in coal prices, while Brent was stable.||Strong wind generation and comfortable gas supply offset the effects of colder temperatures on the near-curve, resulting in a stable session on Friday. Meanwhile, falling coal continued to contribute to bearish movement at the back of the curve.|
|Market Open||Market Open|
|The UK gas system is 8mcm long this morning as Langeled flows have increased and exports via the interconnector have dropped. LNG send-outs have also ramped up as one delivery is expected to arrive today, with another scheduled to dock on Thursday. Sentiment further along the curve is also slightly bearish but the losses have been capped by stronger Brent.||Wind levels are expected to remain high tomorrow and temperatures will sit around the seasonal norm, helping the prompt record a loss this morning. The fundamental outlook is little changed from the end of the week with coal displaying another small loss, although stronger Brent has contributed to some upward movement at the back of the curve.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent ended last week on a bearish note but has recovered over the weekend to trade above $57.6/b. Upward pressure was provided by record levels of compliance amongst oil producers in regards to production cuts during September. Traders are also very hopeful that the current OPEC/ non-OPEC deal will be extended beyond its current March 2018 deadline.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 46.09ppt and £45.59/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.