|Market Close||Market Close|
|News that production at Europe’s largest gas field, Groningen was set to be cut by 6% helped to lift gas prices at the back end of last week, ignoring healthy supply levels. Further out, prices found some support from a rise in coal and carbon markets.||Power was also dictated by the news at Groningen and followed the gas market on Friday, with an expected drop in temperatures offering additional support to the front of the curve. Meanwhile, coal and carbon traded higher which contributed to gains further along the curve.|
|Market Open||Market Open|
|Gas prices display minor decreases this morning as despite a dip, temperatures remain mild for this time of year, while healthy wind generation has reduced the need for gas-fired power generation. Brent has also weakened further, weighing on the far curve.||Power prices display similar movement to gas, with the majority of contracts opening at a small loss. The prompt has opened higher as wind levels are set to drop tomorrow, before ramping up again on Wednesday and Thursday.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices have dropped below $41/b as oil production is set to increase in Libya over the coming weeks, while uncertainty surrounding the US election has also kept a lid on prices.
1-year forward prices
Market close data has revealed that the 1-year forward price for commercial gas increased slightly, while commercial electricity recorded a small loss, closing at 40.92ppt and £47.88/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.