|Market Close||Market Close|
|Far-curve gas prices moved down on Tuesday with bearish pressure provided by weaker coal, oil and carbon markets. Meanwhile, contracts at the front of the curve climbed slightly higher on the back of higher demand and a tighter system.||Power prices displayed a similar trend to gas, with gains at the front of the curve and losses on Front-month and beyond. Coal and oil markets moved down, weighing on the far-curve, while the prompt was dictated by a tighter supply outlook for today.|
|Market Open||Market Open|
|The UK gas system is slightly oversupplied this morning as overall flows have increased. The LNG outlook is also healthy with two deliveries scheduled before the end of the month and a further six expected in the first 10 days of October. Gas prices have decreased as a result, helped by weaker coal and oil.||Power prices are trading down this morning with weaker commodity markets creating bearish pressure along the curve. A healthier gas supply outlook and an expected rise in wind levels for the rest of the week has also contributed to losses on the prompt and the rest of the near-curve.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices have decreased due to concerns regarding weak economic growth, with pessimism surrounded the latest US/ Chinese trade talks; Brent currently trades at $63.1/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 46.29ppt and £51.58/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.