26th June 2017 | Posted by: Catherine Grand | Market Analysis

Gas Power
Market Close Market Close
European gas prices were roughly unchanged at the close on Friday. Prospects of increasing demand in the residential sector for the week ahead as temperatures are expected to fall from recent highs. Day-ahead prices cleared a little higher for today on a lower wind output in some parts of Europe after higher levels throughout the weekend. Solar power production could rebound today, after relatively low levels this weekend. On the far-curve, forward power prices on Friday were back at the levels of the previous week following the downward correction of coal and gas prices.
Market Open Market Open
UK Gas prices have increased this morning, on the back of a short NBP system, and rising Oil prices. Temperatures are still above the seasonal normal today, however they are expected to become cooler towards the back end of the week. The UK System has opened short today, as the SEGAL pipeline unexpectedly extends its current outage for another 2-3 days. Oil prices have increased this morning, on the back of the weaker dollar. But continual rises in US drilling activity are potentially limiting rises. UK Power prices have also increased this morning, however day ahead prices have fallen downward, correcting from drastic rises on Friday. This week, wind levels are expected to increase whilst solar levels decrease. UK Gas prices have risen this morning on the back of a short UK system and rising Oil, this adds support to the UK Power curve.

For a breakdown of the current generation mix visit our Power Generation Insights page.

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.

Brent Summary

Oil prices are up for the third day in a row, but it is difficult to see more than a technical pause in this move, as fundamentally, nothing has changed.

1-year forward prices

Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity increased – closing at 41.89ppt and £43.10/MWh, respectively.

Today’s prices can also be found in an easy to read table on our ‘current UK energy price' page.

'Click to enlarge graph'

Energy Price Graph - 26-06-2017

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.