|Market Close||Market Close|
|Gas prices took a breather yesterday after climbing higher the day before, coal joined gas in the down turn as did oil, for most of the day before returning to positive territory near the close.||Power prices followed their respective feedstocks yesterday, with the UK Power market pulling back with the drop in NBP gas while slightly softer coal prices kept the German power market flat to slightly down.|
|Market Open||Market Open|
|This morning, the system is a mere 3mcm short as both demand and supply in the UK drop sharply. The drop in the UK supplies pales in comparison to the fall in Norwegian production which has been dropping by half day on day. The outage in the UK’s largest supplier is only planned to last for a day before it ramps back up.||Warmer than normal conditions remain forecast into the first week of June, before coming more in line with seasonal averages. This morning, German and UK power prices are up with a rebound in both coal and gas while the Nordics are mostly taking gains in the price of carbon credits.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Crude prices sunk soon after the IEA report that was surprisingly bearish, but corrected in the following hours as bulls seem to be still in control. Brent touched $78.21/b around 5pm before rebounding and trades this morning around $79.5/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 59.05ppt and £57.52/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.