|Market Close||Market Close|
|Gas prices moved down on Wednesday with bearish coal and oil markets dictating changes across the curve. Some seasonal contracts managed to hold their price somewhat but healthy supply levels helped to weigh on prompt prices.||Wind levels were expected to fall further today which helped the prompt climb higher yesterday, while a rebound on the carbon market limited losses at the back of the curve. However, overall sentiment on the curve was bearish thanks to comfortable gas and weaker coal and oil.|
|Market Open||Market Open|
|The system has opened long this morning, while commodity markets display further losses, resulting in bearish movement across the gas curve. LNG, Norwegian and Russian flows remain high, while storage levels are comfortable as we head into winter.||Gas, coal, oil and carbon have all decreased today which has resulted in weaker power prices. An improved wind outlook has helped the prompt open at a discount, while temperatures are expected to be a touch higher next month which should reduce demand.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent displays a strong loss from yesterday’s open with direction coming from a downturn in global stock markets, with Dow Jones in particular falling by 10% since the start of October. Yesterday’s EIA report also did nothing to support the market and prices now trade around $76.2/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 64.20ppt and £61.30/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.