|Market Close||Market Close|
|Gas prices moved lower on Friday, pressured down by movement on financial markets, a mild weather outlook and a flurry of LNG deliveries to the UK. The overall European energy complex was also bearish, resulting in losses on the far-curve.||Power prices decreased on Friday with direction coming from falling gas, coal and biomass feedstock prices. Warm temperatures were also forecast for this week but an expected drop in renewables limited losses on the prompt.|
|Market Open||Market Open|
|The UK gas system is 31mcm long this morning as demand levels are weak for this time of year and supply levels remain healthy. Coal, carbon and power markets have also moved down, providing additional bearish pressure at the back of the curve.||Further losses can be seen across the power curve this morning with healthy gas supply and weakening carbon the main market drivers. Feedstocks and coal also continue to move down and there is no change to weather forecasts.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices almost reached $68/b on Friday but have since eased down and now trade around $67.1/b. Temporary support was provided by positive talks between the US and China but the gains were soon cancelled out by a rise in US oil output.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 51.05ppt and £51.30/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.