|Market Close||Market Close|
|Outages in the North Sea resulted in a balanced system yesterday, offering support to gas contracts. Flows via Langeled stood at 70mcm, however levels are expected to drop back to around the 40mcm norm next week which could result in strong undersupply. Meanwhile, the Pound continued to weaken and the outlook for oil was bullish due to the impending storm in the US.||Power prices increased, displaying stronger gains than their gas counterparts as wind generation is expected to remain low today and over the weekend. The restarts of numerous French nuclear units are also set to be delayed due to safety checks, providing on-going support.|
|Market Open||Market Open|
|A bullish oil market has supported gas prices this morning as Hurricane Harvey will halt production in the US. However, an improved supply picture has limited the gains on the near-curve.||An improved renewable generation forecast for next week has contributed to downward movement at the front of the power curve this morning. Further out, gains on the gas and oil market have supported a few of their power counterparts.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices stabilised on Thursday but moved higher overnight with Hurricane Harvey expected to severely impact US production. Read more here.
1-year forward prices
Market close data has revealed that the 1-year forward price for commercial gas increased slightly, while commercial electricity decreased – closing at 44.77ppt and £45.72/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.