|Changes along the gas curve were minimal yesterday despite a drop in coal and carbon, with oil the only market to strengthen. A colder weather outlook offered support to the near-curve but any gains were offset by healthy supply levels.
|The power curve continued to display a bearish trend yesterday due to falling feedstocks and a drop in carbon allowance prices. Weakening gas prices transferred to contracts at the front of the curve, with stable renewables helping the prompt to record a loss.
|The UK gas system has fallen short this morning despite comfortable supply levels, with an upward revision in temperatures helping to weigh on spot prices. Further out, prices have followed weaker coal and oil markets but any losses are minimal.
|A slightly milder weather outlook has pressured down the near-curve, with an expected rise in wind levels capping upward movement on the prompt. Meanwhile, coal, gas and carbon markets continue to move down, applying downward pressure to the far-curve.
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices were bullish yesterday but display a small drop this morning due to another weekly increase in US stockpiles; Brent currently trades around $59.7/b.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 45.85ppt and £50.28/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.