|Market Close||Market Close|
|Near-curve gas prices were generally stable yesterday due to scheduled maintenance at Norway’s Dornum terminal which will limit flows into Europe. The short term supply/ demand picture is rather healthy but there are some concerns in regards to winter storage levels due to Rough’s closure and restrictions at Groningen. Further out, prices were pressured down by falling coal and oil markets.||Wind levels were forecast to rise today which limited upward movement on the prompt. Power contracts initially opened higher but the gains were erased as the session progressed following a decrease in oil and coal prices, offsetting the effects of stronger carbon markets.|
|Market Open||Market Open|
|Outages have affected Norwegian supply this morning but flows should ramp up tomorrow, helping to weigh on the prompt. The short term weather forecast is largely unchanged and flows via the Nordstream pipeline to Europe are high, pressuring down the rest of the near-curve. Meanwhile, Brent has stabilised but today’s EIA report could lend support to prices this afternoon which would support gas contracts on the far-curve.||Weaker gas, coal and oil markets have contributed to losses across the power curve this morning, with the exception of the Day-Ahead contract. The prompt was supported by an expected drop in wind generation tomorrow, while solar power will also remain low.|
For a breakdown of the current generation mix visit our Power Generation Insights page.
Brent 1st-nearby prices decreased yesterday as traders indulged in profit taking following strong upward movement in previous sessions. However, the overall outlook remains supportive as yesterday’s API data showed an unexpected drop in US crude oil stocks.
1-year forward prices
Market close data has revealed that the 1-year forward price for both commercial gas & commercial electricity decreased – closing at 45.28ppt and £45.52/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.