|Market Close||Market Close|
|Gas prices continued to move down on Friday on the back of strong supply levels and weaker demand. Meanwhile, coal and oil prices moved down on a bearish day for commodity markets which applied further downward pressure on the far-curve.||Power contracts shed from their price on Friday with direction provided by lower coal, carbon, gas and feedstocks. Temperatures were also forecast to rise this week, with healthier wind and solar levels also expected, weighing on the prompt.|
|Market Open||Market Open|
|The UK gas system has opened 15mcm long this morning as flows from Norway are stable and LNG send-outs are high. Milder and sunnier weather is also expected which should reduce demand further. Meanwhile, commodities continue to weaken, with oil displaying a strong loss since Thursday; these factors have resulted in losses across the gas curve.||Weaker fuel contracts continue to pressure down the power curve this morning with a possible influx of coal from China, weighing on markets. Solar power has also improved significantly which has resulted in another loss on the prompt.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices have fallen by almost $2/b since Thursday and currently trade at $67.03/b. Bearish pressure has been provided by an overall weakening of financial markets, with fears of a global economic slowdown.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 43.65ppt and £48.50/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.