|Market Close||Market Close|
|Gas contracts displayed only minor changes yesterday, with prices showing no clear trend. Energy markets moved in opposite directions with coal and oil recording a small gain, while power and carbon closed down.||Near-curve power prices eased down yesterday as the heatwave was forecast to subside over the weekend, resulting in less demand for cooling. Nuclear power plants will also be able to operate at full capacity without the risk of overheating. Movement further out was mostly flat with little support provided by fuel markets.|
|Market Open||Market Open|
|The UK gas system has opened 24mcm long this morning despite reduced flows from Norway. Warm weather is set to continue over the next couple of weeks which will lift gas-fired power demand, providing bullish resistance to the curve. Gas prices are generally unchanged this morning with no fresh direction provided by fundamentals or fuel markets.||Power prices mirror gas this morning and show little movement as coal is unchanged, carbon is slightly down and oil displays a minor gain. There have been no new revisions to the weather forecast for the coming weeks, meaning there has been no direction provided to the front of the curve.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices display a small gain this morning as market sentiment is unchanged, with no recent events significant enough to push prices in either direction as tensions in Iran are holding the attention of traders.
1-year forward prices
Market close data has revealed that the 1-year forward price for commercial gas increased, while commercial electricity moved down – closing at 48.97ppt and £53.95/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.