|Market Close||Market Close|
|Gas prices moved higher yesterday afternoon due to a short system and a rebound on the coal market. Low renewables lifted CCGT demand, contributing to the undersupplied system. Carbon prices also remained bullish and additional support was provided by planned industrial action at sites in the UKCS.||Power prices followed gas and rebounded in the afternoon with support provided by rising coal and carbon. Renewables remained weak, which increased the nation’s reliance on gas-fired power, while warm temperatures lifted demand for cooling.|
|Market Open||Market Open|
|The system remains slightly short this morning as Norwegian flows have dropped and storage injections have increased. Movement along the curve is generally mixed as a rebound in coal has been offset by a stable oil market.||Movement on the power curve is subdued this morning with only small changes in either direction. Fuel markets have provided little guidance to traders but will likely dictate any movement in the afternoon. Meanwhile, wind levels have dropped and solar power has improved slightly, with a similar fundamental picture to last week.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices remain unchanged from Friday’s open and trade at $73/b with the effects of an expected decline in OPEC production and US crude stocks cancelled out by the on-going trade war between the US and China.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased – closing at 57.70ppt and £57.20/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.