|Market Close||Market Close|
|Gas prices moved down during Friday’s session with bearish pressure provided by a weaker demand outlook and healthy LNG supply. The bigger losses were displayed at the front of the curve due to the milder weather forecast, while stable coal and oil markets limited the decreases on the far-curve.||An upward revision in temperatures for this week helped towards losses on the power curve on Friday, although the decreases were not as significant as those on the gas curve. Coal and oil provided little support on the far-curve and contracts were generally stable throughout the session.|
|Market Open||Market Open|
|Temperatures are expected to remain above the seasonal norm this week which will weigh on demand levels. However, UKCS production has dropped by 20mcm due to outages and the UK gas system is only slightly oversupplied. Elsewhere, Russian and Norwegian flows into Europe are stable, while LNG send-outs are healthy. This comfortable supply picture, combined with weak oil has contributed to further losses on the curve this morning.||An upward revision in temperatures for this week helped towards losses on the power curve on Friday, although the decreases were not as significant as those on the gas curve. Coal and oil provided little support on the far-curve and contracts were generally stable throughout the session.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices display a small loss this morning as the market has been rather stable since last Wednesday; Brent currently trades at $50.55/b. Movement on the oil market has been subdued as traders await the outcome of OPEC/ non-OPEC meeting in Kuwait.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 41.73ppt and £42.26/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.