|Market Close||Market Close|
|Near-curve gas prices traded down during Monday’s session as the system was oversupplied thanks to comfortable supply and weaker demand. Contracts at the back of the curve were slightly more resilient with resistance provided by a rebound in coal and oil.||Power prices were pressured down by their gas counterparts on Monday, although a rise in coal and oil capped any decreases at the back of the curve. A milder weather forecast and a healthier outlook in terms of renewables also helped to weigh on the prompt.|
|Market Open||Market Open|
|The system has fallen short this morning as supply levels have decreased and demand has ticked higher. This has restricted losses at the front of the curve, although the overall trend remains bearish. Oil continues to move higher but the European energy complex is largely stable.||Temperatures could drop below the seasonal norm at the start of April which has limited some losses at the front of the curve. Meanwhile, oil, coal and carbon markets display additional gains this morning and have offered support to power prices on the far-curve.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices are on the recovery as overall market sentiment remains bullish, as concerns regarding weak financial markets have eased somewhat; Brent currently trades just above $67.2/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 43.50ppt and £48.23/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.