|Market Close||Market Close|
|Prompt gas prices decreased on Thursday following a bullish opening, with Norwegian flows expected to improve today and demand levels set to remain below the seasonal norm. Prices further along the curve also moved down with direction coming from weaker Brent.||The power curve displayed losses yesterday afternoon with falling gas the main market driver. The prompt was the exception to the bearish sentiment as weaker renewable power was forecast today, resulting in higher CCGT demand. Contracts further out followed their gas counterparts with downward pressure provided by a drop in Brent.|
|Market Open||Market Open|
|Falling oil continues to weigh on the gas curve today, with the help of above average temperatures which will result in low demand. Residential demand is almost unchanged from yesterday although there are still some supply constraints which should be resolved over the weekend. Meanwhile, two LNG deliveries are expected to dock in the UK next month, adding to the bearish outlook.||Power prices display further losses this morning as renewable levels are expected to improve over the weekend and gas prices have decreased on the back of the expected rise in supply from Norway. A further drop in oil and stable coal have also helped towards bearish movement at the back of the curve.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices have moved down this morning with bearish pressure provided by the cancellation of the US/ North Korea summit; Brent currently trades at $78.5/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 57.33ppt and £56.31/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.