|Gas prices were pressured down by a long system and a weaker demand forecast, with milder weather expected over the weekend and next week. Another LNG delivery is also scheduled to dock in the UK even though storage is close to capacity.
|Power prices decreased on Thursday as gas supply was healthy and milder weather was expected to return to the UK, weighing on demand. A drop in coal and carbon also helped to weigh on contracts further along the curve.
|Gas contracts continue to move down this morning, taking direction from weaker power, coal and carbon markets. The Pound has also strengthened against the Euro and the short term supply/ demand outlook is healthy.
|An expected rise in temperatures, combined with stronger wind levels has helped to weigh on prompt power prices this morning. Further out, contracts have found direction from falling coal and carbon.
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices remain stable with no change to fundamentals in last few days, Brent currently trades around $61.1/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 55.58ppt and £58.02/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.