|Market Close||Market Close|
|Uncertainty regarding potential outages at Norwegian gas facilities helped the gas curve inch higher during Tuesday’s session, although an oversupplied system and weak demand forecast kept gains to minimum.||Temperatures were above the seasonal norm yesterday, gas supply was comfortable and wind generation was stable, resulting in losses across the near curve. Further out, contracts were more resilient due to bullish coal, carbon and oil.|
|Market Open||Market Open|
|Most gas contracts on the near curve have opened lower, while longer dated contracts have increased. An improved LNG outlook has helped to pressure down spot prices, while mild temperatures and improved wind generation continues to weigh on demand.||A rise EUA carbon allowances has offered support to power prices this morning, with the majority of contracts displaying gains. Wind levels are expected to drop tomorrow, helping the prompt climb higher, although a sharp rise is expected on Friday. Meanwhile, temperatures are forecast to be around the seasonal norm for the next fortnight.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent Crude displays a minor gain and continues to trade above $65/b as production in the US slowly returns to normal and traders await next week’s OPEC meeting.
1-year forward prices
Market close data has revealed that the 1-year forward price for commercial gas recorded a loss, while commercial electricity increased, closing at 44.09ppt and £54.81/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.