|Market Close||Market Close|
|Gas prices decreased on Friday, following the broader energy complex, with coal, oil, carbon and power all recording losses. The system was oversupplied as gas-fired power demand was down due to very strong wind generation.||Power prices displayed losses across the curve on Friday, taking direction from weaker gas and carbon, with coal markets also turning bearish during the session. The prompt moved sharply down due to strong wind generation which reduced reliance on gas.|
|Market Open||Market Open|
|The UK gas system is 25mcm short this morning, offering support to the prompt and across the near curve. Commodity markets also display a rebound at the start of the session, helping towards gains further along the curve.||Power prices are on the rise this morning, supported by an increase in global stock markets and strengthening commodities. Carbon and feedstocks have climbed higher, while the front of the curve has found additional support from a drop in wind power.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1-st-nearby prices dropped $44.4/b over the weekend, dictated by weakening economies and low demand across the globe. Expectations of further US sanctions in Iran are also expected to impact markets over the coming weeks.
1-year forward prices
Market close data has revealed that the 1-year forward price for commercial gas & commercial electricity increased, closing at 33.79ppt and £44.50/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.