|Gas prices displayed minor losses yesterday as the Pound strengthened against the Euro and the system was oversupplied. Movement on European markets was more mixed as coal, carbon, power and oil prices moved in different directions.
|UK power prices moved in the opposite direction to their European counterparts on Tuesday, taking direction from a stronger Pound and falling gas. An increase in coal and carbon capped losses at the back of the curve but overall sentiment was bearish.
|Gas prices have inched higher this morning with direction coming from rising fuel markets. However, fundamentals are largely unchanged, although temperatures are expected to drop back to the seasonal norm later in the week.
|Coal, gas and carbon markets are stronger this morning which has transferred to the power curve. Temperatures are also set to turn cooler for the start of March which offered additional strength 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 slight rebound, correcting upwards after Donald Trump’s comments in regards to OPEC production cuts weighed on the market yesterday.
1-year forward prices
Market close data has revealed that the 1-year forward price for commercial gas decreased slightly, while commercial electricity moved higher – closing at 51.27ppt and £53.28/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.