|Market Close||Market Close|
|Gas prices ended last week at a premium with direction coming from overall bullish sentiment on European fuel markets, with further support provided by a weaker Pound. Supply levels were comfortable but a colder weather outlook for the coming weeks limited the impact.||Power prices climbed higher on Friday, following rising gas, coal, oil and carbon markets. Wind levels decreased and were forecast to remain lower at the start of this week which offered support to the front of the curve. A colder weather outlook also provided additional bullish sentiment at the front of the curve.|
|Market Open||Market Open|
|The system has opened slightly under-supplied this morning following an increase in exports to mainland Europe and a drop in wind levels which has increased gas-fired power generation. This drop in supply has resulted in gains at the front of the curve, while the far-curve continues to follow bullish fuel markets.||Bullish fuel markets continue to push power prices higher this morning, with strong carbon in particular limiting any downward movement. Maintenance at nuclear facilities in Belgian has also impacted European power markets which have transferred to the UK.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent displays a small gain this morning as OPEC ignored threats made by Donald Trump on Twitter and made no decision to increase output. Brent currently trades around $78.8/b.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased – closing at 74.93ppt and £68.34/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.