|Market Close||Market Close|
|Near-curve gas prices decreased on Tuesday as maintenance at the Interconnector prevented exports and resulted in a glut in supply. The losses filtered through to the far-curve earlier in the session but bullish oil and carbon markets provided support later on.||Power prices displayed mixed movement yesterday as near-curve contracts followed their weaker gas counterparts, with bearish sentiment provided by oversupply and warm weather. Further out, prices were pushed higher by a rise in coal, oil and carbon markets.|
|Market Open||Market Open|
|The system is slightly long this morning and storage levels have increased by 20% as excess supply was injected yesterday. Despite this, gas prices have increased as supply levels have weakened and carbon has strengthened further.||A rise in coal and carbon continues to offer support to power prices this morning, ignoring a drop in oil. Wind levels are expected to pick up over the coming days which has limited upward movement on the prompt, while temperatures will remain above the seasonal norm.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices have weakened with the expectations of a rise in US crude oil inventories. Recent API figures suggest that stocks could have increased strongly last week but overall sentiment remains bullish following the US’ decision to cancel waivers for Iranian oil producers.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased – closing at 52.68ppt and £57.03/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.