|Market Close||Market Close|
|Gas prices moved down yesterday as fundamentals were bearish throughout the session. The system was oversupplied with mild weather expected to continue this week, while numerous LNG deliveries have boosted supply. Meanwhile, oil shed over $2/b from its price following comments from the US President.||Power prices decreased on Monday with healthy gas supply and warmer weather reducing the impact of weak renewables on the prompt. A sharp drop in Brent also helped towards losses at the back of the curve.|
|Market Open||Market Open|
|The system has opened long once again this morning, although not as comfortable as yesterday. Near-curve prices are still slightly bearish, while a drop in oil has offset a rise in coal and carbon, limiting movement on the far-curve.||Coal and carbon markets have offered support to the power curve this morning but any gains have been limited by weaker gas and oil prices. The near-curve is generally bearish due to weaker demand levels, while the far-curve has moved higher.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st –nearby prices fell yesterday following comments made by Donald Trump in regards to oil prices being too high and urging OPEC to ‘relax and take it easy’. Brent currently trades around $64.8/b.
1-year forward prices
Market close data has revealed that the 1-year forward price for commercial gas increased, while commercial electricity was unchanged – closing at 51.35ppt and £52.95/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.