|Market Close||Market Close|
|Near-curve gas prices moved down during Thursday’s session, while contracts further out were stable. Oil and carbon markets decreased, offsetting gains made by coal. In terms of supply, Norwegian and LNG flows improved, while demand fell, balancing the system.||Power prices followed weaker gas and carbon yesterday, with little in the way of fundamentals to support the market. The prompt was the exception to the downward trend as wind levels were expected to drop today, however, strong levels have been forecast for the weekend.|
|Market Open||Market Open|
|The UK gas system is undersupplied this morning due to a drop in overall flows, while demand levels are almost unchanged. Coal and carbon prices have moved down, with the bearish sentiment transferring to the gas curve.||Power prices display mixed movement this morning as gas and oil prices have moved higher, while coal and carbon display a loss. Meanwhile, a milder weather forecast and an expected rise in wind levels has restricted upward movement on the near-curve.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices dropped below $61/b yesterday but quickly rebounded to trade around $62/b this morning. The spread of the Coronavirus in China remains a bullish factor but prices found support from the latest EIA report which showed a decline in US crude inventories.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased – closing at 31.85ppt and £41.42/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.