|Market Close||Market Close|
|Gas contracts shed from their price on Wednesday with the larger losses displayed at the front of the curve. Commodity markets eased down, weighing on the gas curve, with a healthier supply outlook adding to the bearish pressure.||Power prices moved down along with feedstocks, gas and carbon markets yesterday. Wind generation levels were forecast to rise significantly today which helped the prompt record a strong loss, with weaker gas demand also weighing on the near-curve.|
|Market Open||Market Open|
|The UK gas system is balanced this morning as temperatures remain above the seasonal norm, reducing residential heating demand. Storage levels are also healthy and flows are higher than last week’s levels. Despite this healthy supply picture, movement along the gas curve is mostly flat.||Power prices have recovered some of yesterday’s losses due to a slight rise in coal and carbon, while gas and oil are stable. Meanwhile, renewable levels have picked up as expected and the prompt displays another small loss.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices have moved down as Saudi Arabian production is expected to return to full capacity in the imminent future. However, geopolitics involving the US, Iran and China continue to impact trading.
1-year forward prices
Market close data has revealed that the 1-year forward price for commercial gas moved higher, while commercial electricity decreased slightly – closing at 46.43ppt and £51.55/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.