|Market Close||Market Close|
|Gas prices opened at a discount on Friday but recovered losses as the session progressed, with upward pressure provided by a rise in coal and oil. The system was close to balance but an expected rise in LNG send-outs helped to cap gains at the front of the curve.||Power contracts increased on Friday, following stronger commodity markets, with gas, coal, oil, carbon and feedstocks all trading higher. Low wind levels were forecast for this week with hot weather also expected to lift cooling demand, adding to the bullish sentiment.|
|Market Open||Market Open|
|The UK gas system remains close to balance this morning despite a significant drop in Norwegian flows due to planned maintenance, with production levels cut by 55mcm. However, warm weather is expected this week which will reduce demand, resulting in stable prices.||Power prices display further gains this morning as wind levels are weak and demand is set to rise this week, with reduced gas supply also a supportive factor. Commodity markets are generally stable but upward pressure has been provided by a rise in oil and carbon.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices displayed a strong increase on Friday and trade above $65.2/b, with direction provided by tensions between the US & Iran. Prices display a small downward correction this morning but overall sentiment is unchanged.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & electricity increased – closing at 48.85ppt and £53.55/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.