|Market Close||Market Close|
|Gas prices weakened yesterday, with most contracts being pressured down by a drop in coal and a stronger Pound. A rise in oil offered some support to prices at the back of the curve, while improved Norwegian flows and milder weather helped to weigh on the near-curve.||Power contracts were pressured down by weaker carbon and feedstock prices yesterday. Temperatures were also revised upwards in the afternoon, with the start of December expected to be milder than initially forecast.|
|Market Open||Market Open|
|The UK gas system has opened balanced this morning despite weaker supply and lower LNG send-outs, as temperatures remain mild, reducing residential demand. Coal, oil and carbon markets have also opened lower and gas prices display losses across the curve as a result.||Improved wind levels, milder weather and weaker feedstocks continue to pressure down power prices this morning. Coal, oil and gas markets have also opened at a discount, adding to the bearish sentiment.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices moved higher yesterday and ended the session around $63.7/b. Prices have since moved down but trading is subdued ahead of next week’s OPEC meeting and this week’s US stocks report.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 44.40ppt and £49.03/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.