|Market Close||Market Close|
|Gas prices moved down on Wednesday, cancelling out gains recorded in the previous session. Norwegian flows were higher, making up for a rise in gas-fired power generation, while movement on commodity markets was largely bearish.||The prompt and front-month contracts were the exceptions in a bearish session on the power market. The second heat wave to hit Europe this summer has led to a surge in cooling demand, while some nuclear facilities have also had to close due to risks of over-heating.|
|Market Open||Market Open|
|The UK gas system is oversupplied as Norwegian flows continue to improve, while LNG send-outs are unchanged. The general energy complex is mixed today as oil has rebounded and carbon & coal markets are stable, however, the majority of gas contracts have weakened.||Temperatures are expected to peak across Europe today, with numerous records being broken in major cities, resulting in high cooling demand. Temperatures are expected to sit above the seasonal norm over the next fortnight. As a result some gains have been recorded at the front of the curve, while longer dated contracts are slightly bearish.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices moved down yesterday following a sharp rise on Tuesday but display a minor rebound this morning. Sentiment on oil markets is unchanged as traders wait to see the impact of the oil tanker seizure near Iran.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 48.79ppt and £54.23/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.