|Market Close||Market Close|
|Gas prices eased down on Monday with healthy supply levels weighing on contracts at the front of the curve. Improved wind levels reduced gas-fired power generation, while a milder weather outlook will result in a drop in heating demand. Meanwhile, weaker coal prices contributed to bearish movement at the back of the curve.||Increasing wind levels resulted in downward movement across the near power curve yesterday, with milder weather also a factor. Weaker coal, carbon and gas also helped to pressure down prices at the back of the curve, with oil also showing a decrease later in the session.|
|Market Open||Market Open|
|The UK gas system is close to 20mcm long this morning with a rise in temperatures and wind levels weighing on demand. Norwegian and Russian flows remain healthy, while LNG send-outs are strong due to regular deliveries. Gas prices display further losses as a result.||The trend for power prices remains bearish this morning, with a sell-off on the carbon market, combined with weaker coal and gas the main market driver. In addition, healthy wind levels continue to reduce CCGT demand.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices recorded a small loss yesterday evening and currently trade around $79.8/b. Bearish sentiment was provided by Saudi Arabian comments in regards to balancing the market.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 64.88ppt and £61.20/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.